Shanghai's retail leasing market steady in 1Q12

Overall vacancy rate rose to 10.6% due to the launch of three new projects.

According to Colliers International, Shanghai enjoyed sustained economic growth in 2011. By the end of the year, the total retail sales of consumer goods had grown by 12.3 percent year on year to RMB677.71 billion. Pudong and Huangpu districts ranked first in terms of total retail sales and retail sales per capita respectively.

Here's more Colliers:

Shanghai’s retail leasing market remained stable in the first quarter of 2012. The overall vacancy rate rose from the previous quarter’s 9.9 percent to 10.6 percent due to the launch of three new projects in the period. Average rents for ground ‑floor space in prime areas reached RMB 52.7 per square meter per day, a 2.9 percent increase over the previous quarter.

The launch of Bailian Xuhui Shopping Center, Parkside Plaza and Huge Lifestyle Center added 176,359 square meters of new space to Shanghai’s retail market. The projects were distributed between the prime area and the decentralized area.

Shanghai’s luxury market continued to expand with the launches of Aston Martin and Zenith in the first quarter.

A number of buildings in Huangpu district continued to upgrade and reposition in line with local district government plans, including Hong Kong New World Tower’s renovation of its retail podium, which will be known as K11, and the lower levels of Golden Bell Plaza on Huaihai Road, which is being transformed into a Marks & Spencer store.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia