Orchard Road rents to trend up on back of prime retail space scarcity

No new developments are expected in the next 5 years.

Retail rents in Singapore’s prime shopping belt are expected to trend up this year thanks to a lack of new major developments in the area within the next five years.

Data from DTZ show that of the 4.3 million sq ft of retail space expected to be completed between 2015 and 2019, about 70% will be in the suburban areas while the rest will come on-stream in the other city areas.

“Therefore, the lack of new retail space in Orchard/Scotts Road will also help sustain rental growth for prime retail space in this area,” the report stated.

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