Here's where 60% of upcoming retail space supply will come from

It's a total 1m sq.ft.

According to Knight Frank, out of the 1.6 million sq ft of new upcoming retail space in 2013, about 1 million sq ft, or 60% of the total upcoming supply, is located in the Jurong Gateway area with the impending completion of JEM and Westgate.

This is followed by about 20% in the Orchard area, and 14% in the East with the expected completion of Bedok Mall. The remaining upcoming supply is located in avrious pockets in the City Fringe and Downtown Core.

Though older retail malls in the West are expected to experience certain rental revision pressure and higher vacancy following new retail supply of almost 1 million sq ft of net lettable area from the opening of JEM and Westgate, Government's initiatives to reginalise Jurong East will also intensify the catchment population and boost the footfall in the region over the medium to long term.

Given the stable supply and demand conditions, fringe and suburban area retial rents are also expected to stay firm till the end of 2013.

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