RETAIL | Staff Reporter, Singapore

Chart of the Day: Retail pipeline supply to taper off in 2020-2022

The 1.9m sqft of new retail space that will come online in 2019 will mark a peak.

Singapore's retail supply in the pipeline is set to moderate from 2020-2022 as major projects spanning over 1.9m sqft come online in 2019, according to real estate consultant Savills. 

Also readRetail vacancy could rise amidst supply influx

The completion of mega infrastructure projects like Jewel Changi Airport (~576,000 sqft), Funan Mall redevelopment (~325,000 sqft) and Paya Lebar Quarter (PLQ) Mall (~340,000 sqft) in 2019 will mark a stabilisation in the pipeline of retail projects in the city. The supply in 2019 is 90.4% more than the annual net supply of 1m sqft that launched in 2018 with the two malls already enjoying pre-commitment levels over 60%, Alan Cheong, analyst at Savills Research noted in a report. 

Also readJewel Changi Airport 90% leased ahead of 2019 opening

By 2020, the main supply of retail projects in Singapore will come from auxiliary retail components in residential developments.

These include Northshore Plaza I which will be completed in 2020; Le Quest at Bukit Batok Street 41 which will come online by 2021; The Woodleigh Mall at Bidadari Park Drive which is expected to be completed by 2022; and the 146,000 sqft Punggol Digital District which is set to come onstream by 2023. 

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