Around 6.2m sqft retail supply is expected in the next four years.
Savills in a report note that there are at least nine major mall projects in the pipeline, from Q42016 to 2020.
According to the latest data released by URA as of Q3/2016, there will be an estimated retail supply of 667,000 sq ft in the last quarter this year. The upcoming retail supply for the year is mainly from the new mixed-use developments in the Central planning region. The main bulk of the supply comes from two new integrated projects, namely Downtown Gallery and Tanjong Pagar Centre.
The remaining supply comes from the refurbished GSH Plaza, as well as the revamped Beach Centre.
From 2017 to 2020, approximately 6.2 million sq ft of new retail space is expected to enter the physical stock.
Similarly, in 2017, the new supply largely involves integrated projects in the Central planning region. The major developments consist of the new retail mall at Singapore Post Centre and The Heart at Marina One. Hillion Mall in the Bukit Panjang planning area is the only signifi cant development in 2017 that is not located within the Central planning region.
Subsequently, in 2018, the major projects are also mixed developments, such as Paya Lebar Quarter and Northpoint City.
Apart from the existing podium of TripleOne Somerset, which is embarking on Asset Enhancement Initiatives (AEI), there is no planned major retail supply in the Orchard planning area in the near term.
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