Eager international retailers fight for elusive space in crowded Singapore

Vacancy rates are extremely low.

In spite of declining retail sales, international retailers are still extremely eager to set up shop in Singapore. Space constraints, however, are proving to be a challenge for brands looking to establish a presence here.

According to JLL, Singapore is third in terms of international retailer presence, after Hong Kong and Shanghai. Singapore is often used as a hub for expansion into other Southeast Asian markets.

“Whilst Singapore has many attractions for international retailers, availability remains limited in most key retail locations. A large proportion of international retailers will look to create "flagship" stores with strong adjacencies to showcase their offering and position the brand correctly in the most prominent locations. Vacancy rates in prime locations are extremely low and therefore sourcing the correct retail locations is one of the major hurdles to brands looking to enter the market,” stated JLL.