Singapore’s retail scene welcomed back activity-based tenants in H1
They prefer the Orchard Road shopping belt and suburban districts.
Activity-based tenants made a comeback to Singapore’s retail landscape in H1 2018 as landlords pushed to include more lifestyle components to drive back patrons to their malls, Colliers International said. The firm cites that the trend could be seen in the prime shopping belt of Orchard Road as well as suburban districts.
For eastern Singapore, the newly-opened Bedok Djitsun Mall welcomed amusement centre Fat Cat Arcade as its anchor tenant. In addition, the Korean carom billiards bar Thirsty4Balls launched in Singapore at The Cathay along Orchard Road.
Meanwhile, the gym operators Fitness First and GymmBoxx opened new centers at SingPost Centre and JCube respectively.
In January, Australian game arcade operator Timezone opened its 12,000 sq ft flagship outlet at Vivocity which is the largest game arcade in the island. Timezone is also on the lookout to open its eleventh outlet in Jurong Point.
“Although activity-based tenants are likely to sign below-market rents, they serve as a strategic addition to the tenant mix that can generate foot traffic, capture valuable time spent by shoppers in the mall, as well as draw new shopper segments,” Colliers International explained. “In turn, these should yield spillover benefits for other tenants.”
Do you know more about this story? Contact us anonymously through this link.
Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.
To get a media kit and information on advertising or sponsoring click here.