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Singapore retail supply to hit 570,00 sq ft in 2025
This underperforms 2024 levels.
According to Savills’ estimates, Singapore's pipeline supply is expected to come in slightly lower at around 570,000 sq ft of retail space (NLA) this year, compared to 679,000 sq ft (NLA) completed in 2024. The stream of new supply will continue to taper off in the next two years before the completion of some major developments in 2028 to 2029 (such as the expansion of Marina Bay Sands).
“With the limited pipeline supply in the next two years (less than 380,000 sq ft (NLA) per annum), it could relieve some pressure on retail occupancy and rents in the near term,” Savills said.
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