47 Annual Report 2024 ION ORCHARD ION Orchard is an iconic premium destination mall located at the gateway of Singapore’s renowned Orchard Road. The mall has a diverse mix of approximately 300 international and local brands across the luxury and necessity retail segments. In addition, ION Orchard offers unique and multi-sensory experiences via the ION Art Gallery and ION Sky. Beyond a curated selection of popular retail, and food and beverages, the mall boasts an expansive food hall presenting an array of local and international culinary delights. Integrated with a 56-storey luxury condominium, The Orchard Residences, it is seamlessly connected to the Orchard MRT station which serves the North-South Line and the Thomson-East Coast Line, as well as ION Orchard Link, an underground pedestrian link with retail offerings. ION Orchard Link is a vital connection that links ION Orchard to other parts of Orchard Road. As at 31 December 2024 (100% basis) Valuation (S$ million) 3,697.9 Gross Floor Area (sq ft) 945,400 Net Lettable Area (sq ft) 624,200 Number of Tenants ~280 Committed Occupancy (%) ~98 (50.0% basis) Gross Revenue¹ (S$ million) 23.6 Property Information Address 2 Orchard Turn Land Tenure Leasehold tenure of 99 years with effect from 13 March 2006 Joint Venture (% interest) CICT: 50.0% Sun Hung Kai Properties: 50.0% Agreed Property Value in 2024 S$3,697.0 million (100%) Carpark Lots ~520 Bicycle Lots - Green Ratings • BCA Green Mark Gold • LEED Gold 1 Gross revenue comprises gross rental income, car park income and other income from 30 October 2024.
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