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

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.