Corporate bigwigs stake their claims

Ion Orchard.
Ion Orchard.PHOTO: CAPITALAND

Corporate Singapore may stake its dominance in Shenton Way and Marina Bay but it is still keen to strut its stuff on Orchard Road.

Many of the country's biggest firms are represented on the street, including CapitaLand, Frasers Centrepoint, Overseas Union Enterprise, Singapore Press Holdings and OCBC Bank. Australia's Lendlease has carved out a spot as well.

CapitaLand's holdings bookmark the strip - from Ion Orchard at one end, which it developed with Hong Kong's Sun Hung Kai Properties, to Plaza Singapura at the other end. Many of Ion Orchard's longstanding tenants, including Louis Vuitton, are expanding and refreshing their boutiques.

SPH Reit owns the upscale Paragon, including Paragon Medical, which has about 75 medical and dental specialist clinics and offices. The centre attracted about 18.4 million visitors in the 2014 financial year.

Hotels also play a key role along Orchard Road.

OUE Hospitality Trust is represented by the 1,077- room Mandarin Orchard Singapore, and Mandarin Gallery. OUE executive chairman Stephen Riady said: "Hotel RevPars (revenue per available room) have come under pressure in the past two years, but Orchard Road hotel assets, being in such a prime location, continue to be highly desirable as they tend to be more operationally resilient."

A version of this article appeared in the print edition of The Straits Times on July 15, 2015, with the headline 'Corporate bigwigs stake their claims'. Print Edition | Subscribe