Commercial Retail

This is a huge improvement from the 28% drop recorded in 2020.

An increase in COVID-19 cases led to more than 70% decreases in prime office and retail occupancy in Cambodia.

Banks are now occupying large duplex stores.

Completion levels are expected to drop 38% in 2021.

This is the highest recorded vacancy rate since 2006.

Capital values were down 18.1% in Q1, the sixth consecutive quarter of decline.

Several businesses opened new stores during the quarter.

It’s a slower rate than the 2.1% drop recorded in the previous quarter.

NEV brands are looking for space in markets such as Tokyo and Seoul. 

This is following the rise of e-commerce-use amidst long lockdowns throughout the country.

Hang Seng Bank recently took over a space previously occupied by Adidas.

Discount retailers are now bumping luxury shops from Central Hong Kong.

Discounts and promos played a major part in keeping the market steady.

Three malls are slated to open sometime this year.

But retailers are still negotiating revenue sharing arrangements with developers.

Rents fell 12.9% to S$26.60 per square foot per month in Q1.