More Retail Mall opening

After the 1997 Asian financial crisis, the Singapore´s retail industry starts to expand at a very fast pace. Between November 2006 and the New Year 2007, seven new retail places will open in Singapore - VivoCity, Connectz at United Square, Velocity at Novena Square, Ikea Tampines, Square 2 at Novena, Courts in Tampines, Centrepoint´s new wing in Orchard Road and the upper floor IMM building´s annexe in Jurong. All in, that´s 185,800 sq m of extra shopping space this year, the equivalent of two Suntec City malls. Come 2007 there will be Ang Mo Kio Hub (four-storey building with 262 shops), Central Clarke Quay (mall on top of Clarke Quay MRT), Giant in Tampines and Icon Village (Tanjong Pagar).  However the ratio of retail space to people is relatively low in Singapore compare that to Hong Kong, which is about twice that of Singapore. So there should be room for more malls.

Updated On: 07.07.30