SEO Version
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MACQUARIE MEAG PRIME REIT
ANNUAL REPORT 2007
Unmatched Trophy Assets
The Singapore properties comprise two landmark
buildings, the Wisma Atria Property and the Ngee Ann
City Property. The prime location, long linear retail
frontage and seamless connectivity of Wisma Atria and
Ngee Ann City give them immediate visibility and
prominence along Orchard Road, Singapore’s premier
shopping and tourist precinct. In addition, the ease of
access to public transport, being next to the Orchard
MRT station (one of the busiest stations in the MRT
system) and connection to a network of major roads
ensure a high flow of visitors to the properties. Although
the properties are located alongside each other, they
complement each other and provide diversity through
the different markets they target.
Singapore Properties Poised to Take Advantage
of a Developing Orchard Streetscape
Orchard Road is set to become more vibrant
with the addition of new malls and the Singapore
Tourism Board’s S$40 million upgrading programme
for Orchard Road’s pedestrian walkways, which
is expected to be completed by April 2009. The
Singapore properties are well poised to benefit from
these developments.
Around 1.8 million square feet of new retail gross
floor area is expected to come on stream in Orchard
Road between 2008 and 2009. Most of the new spaces
will come from new malls including ION Orchard
(663,000 sq ft) and Orchard Central (250,000 sq ft),
which are due to be completed by the end of 2008.
They will be the first new malls to open along Orchard
Road in a decade. The new malls would make Orchard
Road an even stronger shopping destination, drawing
more shoppers.
Wisma Atria is expected to reap the benefits of being
situated between two of the largest shopping attractions
on Orchard Road – the upcoming ION Orchard
and the perennial favourite, Ngee Ann City. When
completed, ION Orchard, Wisma Atria and Ngee Ann
City will collectively present shoppers with the largest
and longest block of malls, all seamlessly connected via
comfortable, air-conditioned pedestrian linkways.
SINGAPORE PROPERTIES
Left to right: Ngee Ann City, Wisma Atria
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