Retailers must re-look their marketing strategies and woo more international brands or risk being sidelined. That was the assessment by industry watchers, on the back of the impending 2 percentage point hike in the goods and services tax, and they also say that the possible tweak in the employer's CPF contribution and rising rentals could further cut profit margins. Shoppers are expected to cut spending...
Office / Retail Space
Analysts say the proposed sale of the UIC Building along Shenton Way marks the re-emergence of Singapore's commercial property sector. UIC Building is the largest property in Singapore so far to be placed for collective sale and it is expected to see strong interest. Dominating the property buzz of late are home prices in Singapore's central business district. But analysts say more of such homes will...
Retailers are reporting strong sales this holiday season, if not better than last year's. They say this is partly due to more aggressive promotions this year. Some banks which are tying up with shopping malls for the first time this year have reason to cheer. They say their credit card sales are doing well. They note that since mid-November, spending on credit cards has risen by as much as 15 percent...
The Urban Redevelopment Authority has launched the tender for a commercial site at the junction of New Bridge Road and North Canal Road after getting a S$21.5 million bid from an unnamed developer. The 1,300 square metre site is suitable for a small-scale office development. With a gross plot ratio of 4.2, it can generate a maximum gross floor area of about 5,400 square metres. The 99-year leasehold...
BS Capital yesterday opened the showflat for its Lumiere development off Shenton Way. BS Capital chief executive Chin Teck Chuan said yesterday that sales are likely to begin this week, but pricing has not been finalised. Prices at The Sixth Avenue Residences averaged about $1,000 per square foot (psf). Some agents who brought their clients to the showflat at Mistri Road yesterday were overheard...
Lumiere is situated right in between the two exciting hotspots - Marina Bay Sands and Resort World at Sentosa, and is just a stone's throw away from all the important financial institutions and professional centres in CBD. Exciting shopping centres and entertainment hubs are steps away with easy assess to MRT (Tanjong Pagar Station) and bus transportation system. A north-south orientation allows for...
Singapore's retail sales index rose 1.6 percent in October this year compared to a year ago. Total sales amounted to some S$2.5 billion thanks to higher sales, especially in fashion and footwear, supermarkets, food and beverages, and telecom and computer goods. Sales for these goods increased by between 7 and 10 percent over the same period last year. But receipts for recreational goods, and optical...
Residents living in Jurong, Woodlands and Sembawang may get mega stores like the ones in Tampines.National Development Minister Mah Bow Tan says a few parties have expressed interest in developing similar projects under the Warehouse Retail Scheme. They are in talks with the authorities. The just-opened $125m Ikea mega store in Tampines is one of three giant stores in the warehouse cluster. Under the...
Mapletree Investments has secured Merrill Lynch as the anchor tenant for its new office development, Mapletree Lighthouse, in HarbourFront.The entire building will house Merrill Lynch's third global IT and operations hub, after Dublin and Jacksonville, USA.Mapletree is also considering listing a mixed REIT towards the end of next year. Mapletree's latest addition to its HarbourFront complex is a 6-storey,...
Rents in the prime office area of City Hall, Marina Centre and Bugis have climbed by 6.6 per cent since last month, say property consultants Cushman & Wakefield. The second-highest rise recorded in the same period was in the Orchard Road and Scotts Road area, with rents climbing by 4.7 per cent. But the highest rentals in dollar terms are to be found in Raffles Place, where they have climbed...