These are the latest major retail openings in Singapore
And find out how much more retail supply is in the pipeline.
More retail brands are starting operations in Singapore as international travellers make a comeback.
According to Savills, Cinnabon, the renowned American cinnamon roll brand, has opened its first flagship store at Raffles City Shopping Centre. In addition, Tim Hortons has also announced the opening of its stores from April 2023 onwards.
Here’s more from Savills:
Apart from F&B operators, international fashion brands are also setting up shop here. These include Swedish fashion brand Acne Studios which has opened its first physical store at The Shoppes at Marina Bay Sands, as well as Grand Seiko which has also opened its first store in Asia outside Japan at the same shopping mall.
In the suburban area, Korean convenience store chain Emart24 has also opened stores in Jurong Point and Nex Mall, making it the first Korean convenience store chain to operate in Singapore.
According to Savills estimates, the islandwide supply pipeline over the next few years is comparable to that of the past few years. The coming five-year annual average (2023 to 2027) and historical five-year annual average (2018 to 2022) are at 588,000 sq ft.
The bulk of the upcoming supply will be slated to complete over the next two years, with over 700,000 sq ft projected to complete in each of 2023 and 2024, tapering off thereafter.