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THE name of the Glutton's Square site at Somerset is to be wiped off the map, with the developer Far East Organization deciding that its new shopping mall there is to be called 'Orchard Central'. The property company intends to spend some $650 million to complete the mall by the second half of 2008.

While unveiling Orchard Central's retail concept yesterday, Far East said that the mall will be the tallest pure-retail development in Singapore, with 10 above-ground storeys and two basements all dedicated to shopping.

The mall promises a 'bold new retail vision'. It will have a 'cluster' layout, with separate areas devoted to sports and lifestyle, youth, and food & beverage, among others. Construction will start very soon.

Vivienne Tan, Far East Retail Consultancy's newly appointed president, said the management will bring in new international brands, while also seeking to feature and grow local retailers.

To remain true to the Glutton's Square atmosphere, there will be an open-air seating area together with the indoor area. The F&B component will not be greater than 20 per cent, Ms Tan said.

Once the mall is complete, Far East's retail portfolio will have grown to 1.4 million square feet. Other malls under Far East's umbrella include Lucky Plaza, Far East Plaza and Far East Square.

Far East Organization made a $421 million offer for the 0.6 hectare site across from Centrepoint Shopping Centre in January, the highest of six bids. Last week, OCBC Bank, which owns the adjacent Specialists' Shopping Centre, said it was taking a 10 per cent stake in the project.

Since then, observers have speculated that Far East might take a reciprocal stake in Specialists', but no such deal was disclosed yesterday. Far East said yesterday it will work with OCBC to integrate Orchard Central and Specialists'. But as of now, Far East has no plans to be involved in developing the latter.

Far East also said it is open to working with Australia's Lend Lease group to rejuvenate the stretch of Orchard Road that is home to Orchard Central and Specialists'.

Last Wednesday, it was announced that Lend Lease made the top bid of $617.2 million for the coveted site above Somerset MRT station, which is on the other side of Specialists' from Orchard Central.