Retail sector growth slows: Savills
Property GuruProperty Guru – Tue, Dec 18, 2012
by Cheryl Tay
The Christmas season has brought little joy to retailers as they face lacklustre sales, according to the Q4 2012 Retail Briefing by Savills Research.
Excluding motor vehicles, retail sales posted a growth of 1.3 percent. However, year-on-year growth slowed to -0.6 percent (4.1 percent since April 2012). At the same time, sales of jewellery and watches — a measure of discretionary spending — fell for six straight months in October.
Retailers were also generally cautious in expanding their stores in H2 2012, with several looking to consolidate their operations. Nevertheless, existing retailers and new entrants who increased their presence were offered space with attractive rents and strategic locations.
Stores that expanded include famous brands such as Uniqlo, Toys"R"Us, Sephora, Lowrys Farm, Isetan and H&M. The latter opened its second store in ION Orchard, while Babies"R"Us and Toys"R"Us opened two adjacent stores in City Square Mall (pictured), with a combined area of 25,000 sq ft.
In addition, two malls — Chinatown Point and Plaza Singapura's new wing — opened in November. Formerly known as The Atrium@Orchard, the new wing increased Plaza Singapura's net leasable area to 629,000 sq ft from 498,150 sq ft.
Average prime rents on Orchard Road slid to S$35.1 psf pm in Q4 from S$35.2 in the previous quarter, while rents in prime suburban areas remained at S$31.1 psf pm.
"In the absence of extreme shocks, such as the 2009 supply onslaught of nearly 1.3 million sq ft on Orchard Road and negative GDP growth, we expect just a mild rental correction of up to three percent in the main shopping belt," said Alan Cheong, Director at Savills Research Singapore.Cheryl Tay, Editor of CommericalGuru, wrote this story. To contact her about this or other stories, email cheryltay@allproperty.com.sg
- wong chee tat :)
Showing posts with label City Square Mall. Show all posts
Showing posts with label City Square Mall. Show all posts
Monday, December 24, 2012
Monday, November 19, 2012
New care services hub opens at City Square Mall
New care services hub opens at City Square Mall
By Melissa Chong | Posted: 18 November 2012 2312 hrs
SINGAPORE: A new one-stop hub for the elderly and disabled has opened at City Square Mall at Kitchener Road.
The Centre for Enabled Living (CEL) made a first-of-its-kind attempt to bring social services into a shopping mall.
"To prepare for an ageing population, the government will be investing significantly in facilities and services to support the needs of our seniors," said Health Minister Gan Kim Yong.
"However, improving the quality of service delivery is also a key priority. We must be able to make services more accessible, more comprehensive and more seamless for those in need."
Receptionists will direct visitors to the right partner organisations, including NTUC Eldercare and St Luke's ElderCare, Thye Hua Kwan Moral Society and Asian Women's Welfare Association, where they can sign up for a range of services.
This includes senior activity centres, home help services and caregiver training.
Family consultation rooms have also been built for those who require further advice, or prefer discussing their needs in a private setting.
Two of the four rooms include video-conferencing facilities for remote consultations.
In the retail section, customers can buy elderly-friendly equipment, exercise machines and devices that can help the elderly live more independently.
The goods and services include mobile phones with an emergency alert system, hearing aids, wheelchair rentals and incontinence products.
Family members can also sign up for hands-on training sessions to learn how to be a better caregiver to their loved ones.
The centre is located at Basement 2, and will be open from 10am to 10pm daily.
- CNA/xq
- wong chee tat :)
By Melissa Chong | Posted: 18 November 2012 2312 hrs
SINGAPORE: A new one-stop hub for the elderly and disabled has opened at City Square Mall at Kitchener Road.
The Centre for Enabled Living (CEL) made a first-of-its-kind attempt to bring social services into a shopping mall.
"To prepare for an ageing population, the government will be investing significantly in facilities and services to support the needs of our seniors," said Health Minister Gan Kim Yong.
"However, improving the quality of service delivery is also a key priority. We must be able to make services more accessible, more comprehensive and more seamless for those in need."
Receptionists will direct visitors to the right partner organisations, including NTUC Eldercare and St Luke's ElderCare, Thye Hua Kwan Moral Society and Asian Women's Welfare Association, where they can sign up for a range of services.
This includes senior activity centres, home help services and caregiver training.
Family consultation rooms have also been built for those who require further advice, or prefer discussing their needs in a private setting.
Two of the four rooms include video-conferencing facilities for remote consultations.
In the retail section, customers can buy elderly-friendly equipment, exercise machines and devices that can help the elderly live more independently.
The goods and services include mobile phones with an emergency alert system, hearing aids, wheelchair rentals and incontinence products.
Family members can also sign up for hands-on training sessions to learn how to be a better caregiver to their loved ones.
The centre is located at Basement 2, and will be open from 10am to 10pm daily.
- CNA/xq
- wong chee tat :)
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