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New retailers sprouting in Singapore, but more shop spaces stand empty

This has been attributed to budding retailers setting up and operating from home during the pandemic

Fiona Lam

Published Thu, Jun 10, 2021 · 05:50 AM

Singapore property

Singapore

MANY brick-and-mortar shops are likely to remain unoccupied even if the overall number of businesses in the sector continues to grow, with more retailers working from home and starting their ventures online.

Going by data compiled by the Institute of Real Estate and Urban Studies (IREUS) at the National University of Singapore, the take-up of retail units across Singapore has been slow despite a net increase in retail entities from pre-pandemic levels.

IREUS deputy director Lee Nai Jia foresees more budding retailers focusing on building their online platforms and operating from home, as e-commerce gains popularity and consumers avoid crowded malls during this coronavirus outbreak.

This is especially so after the country's recent uptick in Covid-19 cases and the restrictions during its Phase Two (Heightened Alert) period, which started on May 16 and runs through June …