S’pore says no confirmed land sales in H2

Source : Business Times – 2 July 2009

Singapore’s government said on Thursday it will continue to suspend the sale of land on its ‘confirmed list’ in the second half of 2009 due to economic uncertainties.

The government did, however, add three sites to its ‘reserve list’, increasing the number of land parcels that may be sold to nine from six.

Singapore will only release a site on its ‘reserve list’ for sale if an interested party submits an application for the site at a price that is acceptable to the government.

Louis Vuitton store may open at one of Singapore’s IR

Source : Channel NewsAsia – 2 Jul 2009

Global luxury retailer Louis Vuitton has said it is in discussions to open a store at one of the two upcoming integrated resorts in Singapore scheduled to open next year.

This was revealed at a preview of its latest global store, which will open at ION Orchard on Friday.

Jean-Baptiste Debains, president of Louis Vuitton Asia Pacific, said: “We’re looking at it seriously. No decision has been taken now, but for sure it is an exciting project.

“We believe that Singapore has a real role to play as a hub for Southeast Asia in retail, and in luxury retail in particular.”

The store at ION Orchard is Louis Vuitton’s first and largest global store in Southeast Asia, and only its second in the world to showcase Louis Vuitton’s full range of products, including shoes, watches and its trademark leather goods.

Louis Vuitton has three other stores in Singapore – Ngee Ann City, Raffles Hotel and DFS Scotts Walk – but they do not have its full range of products.

The retailer has some 77 stores across the Asia Pacific region, with another five stores slated to open in the region later this year.