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Retail Asia22/04/2016

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Dwindling footfalls and intense competition in the Hong Kong retail market is prompting developers of shopping malls to tap unexplored areas for growth. New World Development has gone a step further and is using its revamped D.Park shopping mall in Tsuen Wan to tap the niche children’s market. The group has launched Multiple Intelligence Kids […]

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Retail Asia22/04/2016

More shops are moving to the suburbs. More retailers are opting to vacate their prime spaces in Orchard Road and move to the heartlands instead, according to a report by CBRE. This trend exacerbates the problems ailing Singapore’s retail leasing scene, which has been hard-hit by a decline in both tourist and local spending. “As […]

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Retail Asia21/04/2016

New income from Tropicana City Mall and higher contributions from Gurney Plaza and East Coast Mall, CapitaLand Malaysia Mall REIT Management (CMRM) have propelled reported property income growth of 13.1 per cent for the first quarter. Tropicana City Mall and Tropicana City Office Tower were acquired in July last year. CMRM, which manages CapitaLand Malaysia […]

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Retail Asia20/04/2016

Singapore sovereign wealth fund GIC has teamed up with Indonesia’s PT Mega Manunggal Property (MMP) to develop a portfolio of quality logistics warehouses over the next three years. The warehouses will boast nearly 500,000 sq m of net leasable area in both Greater Jakarta and Greater Surabaya in Indonesia, the two firms said in a […]

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Retail Asia20/04/2016

Singapore’s sovereign wealth fund GIC and Korean department store Shinsegae are partnering to develop a prime retail mall in the Incheon Free Economic Zone (IFEZ). Working through affiliates, the companies have signed a US$197 million sale-and-purchase agreement for 59,730 sqm of land for the Incheon mall in the international business district of Songdo, close to […]

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Retail Asia15/04/2016

Singapore retail rents are falling according to the latest figures from real-estate company DTZ Southeast Asia. Average monthly first-storey rent across the island eased by 1.2 per cent quarter-on-quarter to about S$30.15 (US$22.22) a sqft in the first quarter this year, says the company – the fourth consecutive quarter of decline. This is 7 per […]

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Retail Asia14/04/2016

Swiss-Belhotel International continues its growth in all segments of the Indonesian hospitality industry with the opening of the four-star Swiss-Belhotel Jambi, Central Sumatra. The hotel is the first international property in Jambi with an impressive grand ballroom with seven-metre high ceilings, capable of hosting over 1,200 guests. The opening ceremony was led by the Mayor […]

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Retail Asia14/04/2016

Parkson Retail Group Ltd (PRG), a unit of Parkson Holdings Bhd, is confident its new shopping mall in Qingdao, China, which opens later this month, will attract strong retail interest, even as rapid economic growth in China cools down. The Asian Development Bank has predicted the Chinese economy to grow 6.5% this year. Retail sales […]

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Retail Asia13/04/2016

Shares in property developer PT Agung Podomoro Land Tbk plunged 10 percent on Monday, after Indonesia’s anti-graft agency launched an investigation that raised concerns that a multi-billion-dollar project could be delayed. Ariesman Widjaja, the firm’s chief executive officer, is suspected of bribing a member of the Jakarta provincial assembly to influence the regulation for a […]

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Retail Asia12/04/2016

CapitaLand Mall Trust, an owner of retail malls in Singapore, is the largest listed real estate investment trust (REIT) in Singapore. But, mere size alone does not guarantee that shoppers will keep coming back to its portfolio of malls. To ensure a steady stream of shoppers, the REIT has to keep itself plugged into the latest […]

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Retail Asia12/04/2016

A lot of people thought we dreamed the impossible dream,” chuckles Chadatip Chutrakul, recalling initial reaction to her newest–and biggest–project, Icon Siam. The 55-year-old CEO of Siam Piwat is best known as first lady of Siam Paragon, her signature mall. Much more than a Bangkok institution, it’s a global sensation, one of the world’s most […]

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Retail Asia11/04/2016

The average office rental rate in the Philippines is much cheaper than anywhere else in Asia-Pacific but this segment is very lucrative because brisk demand from business process outsourcing (BPO) is driving growth at a “healthy” pace, experts from global property consulting firm Jones Lang LaSalle said on Wednesday. Apart from office property, JLL sees […]

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Retail Asia10/04/2016

Hui Xian Real Estate Investment Trust, the first yuan-denominated reit listed in Hong Kong, said on Tuesday that its amount available for distribution rose 8.4 per cent last year despite the weak growth in the mainland Chinese economy and the ongoing global slowdown. The reit said the amount available for distribution grew to 1.48 billion […]

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Retail Asia09/04/2016

Dubai Mall has ranked higher than London’s Regent Street, New York’s Fifth Avenue and the Champs-Elysees in Paris in terms of the overall quality of its retail facilities and amenities, according to the latest Global Retail Destination Index 2016 from Savills. The report measures the various retail attributes held by London’s West End and compares […]

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Retail Asia09/04/2016

It is expected to provide stable income. According to KGI Fraser, Croesus Retail Trust (CRT) is acquiring Fuji Grand Natalie, a suburban retail property in Hiroshima Prefecture. It added, “The NPI yield of the acquisition is 6.3 percent using the purchase consideration of JPY3.3b. The total acquisition cost is JPY3.63b (S$44.3m), funded by equity using […]

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Retail Asia08/04/2016

Retail, entertainment and hospitality brands will feature in a planned City Centre development including a Bukit Bintang mall in Kuala Lumpur. “The mall will transform the retail landscape in Kuala Lumpur, catering to all shopping needs with the introduction of home-grown and new-to-market international brands,” says Eco World Development, which is part of the joint […]

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Retail Asia08/04/2016

Malaysian Resources Corp Bhd (MRCB) will build a RM56.8 million cold storage processing and distribution centre in Kajang, Selangor, for the Giant retail chain. MRCB’s wholly-owned subsidiary MRCB Builders Sdn Bhd today signed a contract with GCH Retail (M) Sdn Bhd, through Jupiter Lagoon Sdn Bhd, a wholly-owned subsidiary of Hong Kong-based Dairy Farm International […]

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Retail Asia08/04/2016

In a review of the Hong Kong office and retail property markets today, DTZ/Cushman & Wakefield, a global leader in commercial real estate services, pointed out that office rents in core business districts continued to rise in Q1 2016, with Prime Central and Greater Central leading the pack with a surge of 5.3% and 4.3% […]

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Retail Asia07/04/2016

In a bid to overturn the sluggish growth of traditional brick-and-mortar retail, Lotte Department Store is launching a new type of shopping mall in Seoul, the Lotte El Cube. In a trendy university neighborhood, the relatively small store focuses specifically on young, fashion-conscious shoppers – a departure from the retailer’s usual strategy of offering something […]

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Retail Asia07/04/2016

Japan’s Aeon Mall plans more shopping centres in Indonesia and Vietnam, and is also looking at possibilities in Laos, Myanmar and Thailand. Under its 2020 strategy, it is planning five more outlets for Jakarta, after entering the 250-million-strong market with its first Aeon Mall in Indonesia last year, and will also add three more branches […]

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