The Urban Redevelopment Authority's (URA) rental index of retail space in the central region of Singapore slipped 1.2 per cent in the third quarter of 2018 over the previous three months. This follows a 1.1 per cent quarter-on-quarter decline in the previous quarter. However, URA's price index of retail space in the central region rose 0.3 per cent quarter on quarter in Q3 after easing 1.3 per cent...
Singapore Retail
M+S Pte Ltd, the joint-venture between Malaysia's Khazanah Nasional and Singapore's Temasek Holdlings, has appointed JLL to advise it on the sale of the office, hotel and retail components of the Duo project along Beach Road, said sources. They told The Business Times that the combined asking price for the above components is about S$2 billion. The joint-venture company has sold almost all the 660...
Plans are being drawn up to transform Singapore's main shopping belt, Orchard Road, into something more than rows of boutiques and malls, Senior Minister of State for Trade and Industry Chee Hong Tat said on Wednesday (Oct 17). These plans could include turning Orchard Road into an innovation district, where start-ups and social entrepreneurs use the precinct as a "living lab" to test out ideas for new...
A rare strata portfolio comprising 59 freehold shop units in Ming Arcade is available for sale via an Expression of Interest (EOI) exercise, CBRE the sole marketing agent announced on Monday. The freehold Ming Arcade is a seven-storey strata-titled commercial building with three basement storeys. Completed in the 1980s, it has a total of 88 strata shop units. Offered for sale are 59 strata shop units...
The redeveloped Funan mall will open two months ahead of schedule in the second quarter of 2019, instead of the projected third quarter, thanks to smart technologies used in its construction. This was announced on Friday (Sep 28) during its topping out ceremony, which marked the integrated development's structural completion. Its developer CapitaLand adopted new construction methods, such as virtual...
Two conservation shophouses in Tras Street (at Tanjong Pagar area) have been put up for sale by the same owner in an expression of interest exercise, according to an announcement from the marketing agent JLL on Wednesday. The three-storey leasehold commercial properties, which are not adjacent, have a guide price of S$22.6 million, or about S$2,800 per square feet based on gross floor area. The...
At Marina Square mall, The Maternity House has not made any sale for four days in a row. The store selling maternity wear, which has been a tenant there for more than 15 years, is not the only one bemoaning the sluggish business at the once-bustling downtown mall, which was in the news more than three years ago for having a rodent problem. Other shopkeepers such as MaxCoil Bedding Gallery also told...
Year-end school holidays may be some months away, but parents seeking activities for the family during the school break can look forward to visiting a new indoor activity park from Finland. In November, indoor activity park brand SuperPark is opening a 40,000 sq ft activity site — around three-quarters of a football field — offering more than 20 activities in three themed zones for Singaporeans of...
Singapore's retail sector has been subdued since Q4 2011 when retail rents peaked; just as the famed integrated resorts were freshly completed, tourists from China came in droves and suburban malls flourished as they began to showcase similar offerings as those in the prime district of Orchard Road. However, towards end-2013, the narrative changed. Consumers began migrating online, as they sought better...
A freehold commercial corner development site with a 40-metre wide dual frontage along Serangoon Road and Petain Road has just been launched for sale via an Expression of Interest (EOI) exercise by exclusive marketing agent, JLL. The corner development site consist of 450 Serangoon Road and 452 Serangoon Road. The site occupies a prominent corner location with a combined land area of 4,984 sf....