Monthly Archives: July 2009

ION Orchard unveils commissioned art pieces at its mall

Retail therapy takes an artistic twist along Orchard Road. Developers have commissioned multi-million dollar artworks to be put up at Singapore’s newest mall.

A two-tonne nutmeg greets shoppers at the entrance to ION Orchard. The sculpture by Singapore artist Kumari is a tribute to Orchard Road’s history, when it was once a nutmeg plantation.

“Urban People” is the name of six sculptures by a Swiss artist. It is an interpretation of the human presence in the mall.

All these are part of the mall’s efforts to provide more than just retail therapy. Also new is one of Singapore’s largest gallery within a shopping mall.

Soon Su Lin, CEO, Orchard Turn Developments, said: “Many of the super brands are incorporating art into their designs. And we feel that ION Art, as a programme within the mall, we are providing a platform for retailers, artists, curators, galleries, to be able to bring art to the shoppers.”

ION Orchard said the gallery space has been booked till the end of the year.

Some of the high-end tenants will be bringing travelling shows from places like Paris to Singapore.

Source : Channel NewsAsia – 24 Jul 2009

Private home prices fall 4.7% in Q2

Private home prices in Singapore fell 4.7 per cent in the second quarter of this year, compared with the previous three months.

Although that marked the fourth straight quarter of falls, the pace of the decline appeared to be moderating.

Prices fell a record 14.1 per cent on quarter in the January to March period.

The second quarter decline was also better than 5.9 per cent fall predicted in the advance estimate released earlier this month.

Meanwhile, private residential rents fell 5.2 per cent in the second quarter, compared with an 8.5 per cent drop in the first quarter.

Source : Channel NewsAsia – 24 Jul 2009