Jewel, revamped Funan boost net absorption of retail space
Vacancy rates of retail space in Orchard still 'healthy'; market watchers say consumer spending remains cautious
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Singapore
STRONG net absorption of retail space in the second quarter led to a one percentage point drop in the island-wide vacancy rate for retail space, but the outlook for this property segment remains weak.
Official data shows that the net absorption of retail space - as reflected in the change in occupied space - was 74,000 square metres in net lettable area (NLA) island wide, making it the highest in 18 quarters.
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