Commercial Retail

Almost a quarter of closures were by F&B brands.

High street rents also slightly increased by 0.6%.

This is the largest rental movement in this subsector.

Luxury brands continue to drive demand for prime spaces. 

This consists primarily of neighbourhood centres.

Nearly 62,000sqm of retail space is currently under construction.

Thanks to the inflow of new tenants in existing retail spaces.

And city fringe retail rents are projected to grow by 3.1%.

Both are seeing strong early leasing activities.

It has achieved 70% occupancy so far.

Rents are expected to keep growing for the rest of the year.

And some domestic brands also plan on expanding their presence.

And high street shop vacancy declined to 13.7%.

Interactive art exhibitions are now becoming popular.

This was driven by rental growth in the Prime City submarket.

Completions reached 42,000sqm over the last 12 months.