Singapore still a retail hotspot even as headwinds mount: CBRE

58 new brands entered the market in 2015.

Singapore remains a hot retail market despite mounting headwinds, a report by CBRE revealed.

According to CBRE, Singapore follows Tokyo in the list of target markets with 58 new entrants, double the number seen in 2013.

Food and beverage operators were most active, followed by mid-market apparel and accessories like ladies fashion, footwear, handbags and sports goods.

The report noted that the Orchard Road area continues to be the most popular shopping location, as new completions such as Orchard Gateway and Shaw Centre provided more expansion opportunities.

Most luxury brands picked The Shoppes at Marina Bay Sands as their first home since the retail complex is proactive in upgrading tenant mix and offers affluent-shopper traffic from the enclosed gaming resort.

However, the report also noted that retail headwinds are on the rise, which could see fewer new entrants in the market this year.