Colliers Bi-Annual Report H1 2020: Retail

Overall recovery expected to be slow; resilient retailers could leverage on rental rebates and boost online strategies to drive sales

Retail rents declined 4.7% on average for Orchard Road and Regional Centre in H1 2020 amid the effects of the nation-wide Circuit Breaker measures. While most retail shops have reopened, we expect rents to fall 5% - 8% in 2020.

Net demand in H1 2020 fell to a record low and we expect new demand to stay muted, despite limited new supply. Island-wide vacancy jumped to 9.6% at a record 1.46 million sq ft amid retail closures and downsizing of operations, but is expected to improve from 2021 and trend towards 7% in 2024.

Download Colliers' bi-annual report on the retail sector in Singapore for H1 2020, as we analyse the latest trends and market outlook, with expert recommendations for retailers, landlords and investors.

Light at the End of the Tunnel | Retail H1 2020

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Govinda Singh

Executive Director

APAC Capital Markets | Hotels & Hospitality | Advisory

Singapore

+65 6531 8566

Govinda, a member of RICS and registered valuer, is a chartered certified accountant with a postgraduate diploma in economics and a certificate in business valuations, who began his career at Pricewaterhouse in audit and tax advisory.

Having worked as an Operations Manager for Hilton, he was the Financial Controller at the luxury Lanesborough Hotel, at which time he worked closely with the Rosewood and Starwood hotel groups at both the local and corporate level.

Govinda joined PKF in London in 2005 where he was a Managing Consultant within the Hotels and Leisure Valuation and Consulting practice. He subsequently joined BDO’s Real Estate Valuation and Consulting team in 2012, where he was a Director responsible for the EMEA, Caribbean and Asia-Pac regions.

Govinda joined Cushman & Wakefield Singapore in 2015 where he was a Director within the Asia-Pac Valuation and Advisory team.

He is now an Executive Director at Colliers International advising on, and valuing investments involving mixed-use, specialist and alternative asset classes across Asia and further afield.

He is also one of Colliers’ dedicated specialist portfolio advisors and valuers in the region, and globally.

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