Singapore's world-famous retail and entertainment district Orchard Road has been the location of another multi-million dollar deal.

CapitaMall Trust bought the Atrium@Orchard from CB Richard Ellis for a huge $839.8 million (£421.60 million).

The building was finished in 2002 and has two office towers, one with seven storeys and the other with ten, as well as retail space on the ground floor.

CapitaMall Trust will be able to create a retail junction that should generate massive business as it will take advantage of the shopaholics on Orchard Road.

Atrium@Orchard, which is adjacent to Plaza Singapura, currently has a pedestrian mall which is becoming increasingly popular with people not just for its shops but also its restaurants and cafes.

It has been designed to be a continuous covered space which, with the Dhoby Ghaut MRT, gives commuters "a seamless spatial experience", according to the Singapore Urban Redevelopment Authority.

Visitors can stay at Orchard Hotel Singapore, which is located on Orchard Road.


14/07/2008