There were 63 new entrants in total.
Restaurants continued to sprout up across Singapore despite ongoing headwinds in the retail market, revealed a report by CBRE.
The survey showed that Singapore ranked second in the Asia Pacific region for the number of new entrants with cafes and restaurants making up 23 of the 63 new entrants.
CBRE Research expects that the retail market headwinds in Singapore will in fact create opportunities for international retailers to enter these markets as rents decline.
The report also found that F&B entrants made up the largest proportion of new entrants in Asia Pacific retail markets in 2015. 33 per cent of new brands which opened in these markets were captured under the Coffee and Restaurants category in the CBRE survey.
Do you know more about this story? Contact us anonymously through this link.