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Aerial capture sunrise moment of Singapore’s downtown area, highlighting the city’s skyline and expansive waterfront during daylight hours.

Understanding the Retail Landscape in SingaporeOne of the most important questions to ask when searching for real estate space is whether your business is a true destination or one that relies heavily on footfall, because no one understands your business better than you do.Businesses can afford to be away from prime retail stretch or ground-floor frontages as long the location supports their brand identity and offers the right environment for customers to go out of their way to visit.Brands depending on walk-ins and impulse spending, unfortunately have to prioritize visibility, accessibility and proximity to high pedestrian traffic. Within any retail mall or shopping stretch, the specific lane or level can significantly impact footfall. While it may seem like a simple matter of taking an escalator up, influencing consumer movement is far from straightforward even with clear signage as many shoppers today remain preoccupied with their mobile phones and are less likely to explore beyond their immediate path.Will the additional $3 per square foot for a 1,500 sq ft space with better frontage and higher footfall translate into enough sales to justify the opex? It ultimately falls on the business owner’s judgment to make that call and not on any staff member.The truth is, whether you are a destination brand or one that relies heavily on human footfall, it has become more critical than ever for businesses to take a deeper look at their marketing outreach and how effectively it connects across multiple channels.Consumer behavior has evolved dramatically as customers today rarely engage with a brand through a single touchpoint. They love to explore, interact and make purchasing decisions across a mix of online and offline platforms. Hence the success of any retail business, regardless of its size, format, or location, now hinges on how seamlessly it can integrate its physical presence with digital and social channels.We often hear that understanding our target audience lies at the core of every successful business but how many of us can truly say we are keeping up?Different customer segments respond to different types of engagement. Some are captivated by immersive in-store experiences or strong word-of-mouth while others are influenced more by social media content, influencer partnerships or personalized digital campaigns.A well-designed marketing strategy have to be able to pinpoint where each audience segment is most active and craft messages that resonate on the respective platforms.It may sound like a lot to juggle but that is the reality of running a business today. The modern marketplace rewards those who adapt, stay agile and remain deeply connected to how their customers think, feel, and shop.Welcome to the real world!

The Challenges of Today's Retail Businesses

<figure id="figure-6gsbir05inmg7sd5v2" data-full-width=""><img id="6gsbir05inmg7sd5v2" src="https://cdn.durable.co/covers/bmFV0vx5eRURQSM2UUB4O7QryAGRFQDqIZPpslf5dMNh4lWNuocT0WIfnMkfZXWx.jpg" alt="" title="" class="object-cover bg-gray-100 " style="aspect-ratio: 1/1; object-position: 50% 25%;" data-corners="default" data-aspect="1:1" data-caption="" data-positionx="50%" data-positiony="25%" data-fullwidth="true" data-mce-src="https://cdn.durable.co/covers/bmFV0vx5eRURQSM2UUB4O7QryAGRFQDqIZPpslf5dMNh4lWNuocT0WIfnMkfZXWx.jpg" data-mce-style="aspect-ratio: 1/1; object-position: 50% 25%;"></figure>Right in the heart of Orchard Road, Wisma Atria shines as a true icon of style and shopping excitement. A trailblazer in Singapore’s retail scene, its unbeatable location and vibrant tenant mix make it a must-visit destination for both locals and international visitors seeking the Orchard experience.Wisma Atria is predominantly owned by Starhill Global Real Estate Investment Trust (SGREIT), which controls the majority of the property’s total strata share value, while the remaining stake is held by Isetan Singapore prior to the recent divestment.Based on SGREIT's 2H and FY2024/25 financial results released on 29th July, a total of 13 strata units in Wisma Atria were divested during the financial year (1st July 2024 to 30th June 2025), in line with the group’s strategy of rejuvenating its portfolio through selective divestments.&nbsp;SGREIT’s strata title interest in Wisma Atria stood at 68.81% as of 30th June 2025, following these transactions.Within the financial year, YTL Starhill Global, the manager of SGREIT, announced on 28th October 2024 the divestment of level 12 of the Wisma Atria office tower to an unrelated third party for S$16.1 million, approximately S$2,100 psf based on 7,653 sqft of NLA, reflected a 22.2% premium over its most recent valuation of S$1,719 psf of NLA.Between October 2024 and June 2025, only six caveats were lodged for units on Levels 15, 19 (two units), 20, 21 and 22, with a total strata area of 9,246 sqft, transacted at a combined value of S$21.4 million.The most recent four caveats, comprising three adjoining units on level 17 lodged on 16th September and another unit on level 20 lodged on 27th August, should fall within this new financial year.SGREIT’s 68.81% interest in Wisma Atria currently represents a total NLA of 206,755 sqft, comprising 126,412 sqft of retail space and 80,343 sqft of office space, which is expected to further reduce slightly by the end of the current financial year.With an estimated lease balance of 36 years, it remains to be seen what the asset owner’s next move will be.

Wisma Atria : A Pioneer in Singapore's Retail Landscape

<figure id="figure-qi2pc7bbkmmf8bsc1l" data-full-width="" class=""><img id="qi2pc7bbkmmf8bsc1l" src="https://cdn.durable.co/covers/13IUdAhyEvij6unARo2Ivl3wNaR4sx2wSrdbmrMskZJbm5EZ0HYTHXmwtpjfGnua.jpg" alt="" title="" class="object-cover bg-gray-100 " style="aspect-ratio: 1/1; object-position: undefined undefined;" data-corners="default" data-aspect="1:1" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="true" data-mce-src="https://cdn.durable.co/covers/13IUdAhyEvij6unARo2Ivl3wNaR4sx2wSrdbmrMskZJbm5EZ0HYTHXmwtpjfGnua.jpg" data-mce-style="aspect-ratio: 1/1; object-position: undefined undefined;"></figure>Located along Temasek Boulevard in District 1, Suntec City is a 99-year leasehold mixed-use development comprising of five Grade-A office towers, one of Singapore's largest retail malls and a world-class convention and exhibition centre. It is linked to several transportation nodes such as City Hall, Promenade and Esplanade MRT stations, offering connectivity to the North-South, East-West, Downtown, and Circle MRT Lines.&nbsp;Based on a caveat lodged on 19th June, three adjoining units on the 38th floor of Suntec Tower One were transacted for S$32.31 million. The combined strata area of 10,097 sq ft reflects a price of S$3,200 psf.&nbsp;The caveat was recorded in URA Realis on 5 September. In comparison, the caveat for the similar three adjoining units on the 35th floor, which transacted for S$33.97 million (S$3,364 psf), was lodged on 1st July and reflected in the system on 11th July.At S$3,200 psf, the deal equalled the 2nd-lowest psf achieved this year, involving a 4,801 sq ft unit on the 24th floor of Suntec Tower Three. The lowest psf year-to-date, was for a 2,131 sq ft unit on the 19th floor of Suntec Tower One, which changed hands at S$2,956 psf, the only transaction this year to dip below the S$3,000 psf mark.The seller had acquired the units back during launch in March 1996 for S$18.35 million (S$1,817 psf), marking a capital gain of S$13.95 million over almost three decades holding period.It remains uncertain whether the units were transacted within the “holding period” as ownership could have changed hands through a company share sale or a deal without a caveat being lodged.Source : Urban Redevelopment Authority

Suntec Tower One office floor transacted at S$3,200 psf

High Angle View of Orchard Road, Singapore at Night

On 13th May this year, URA released the residential site at Chuan Grove (1H 2025) for sale under the first half 2025 (1H2025) Government Land Sales Programme. The site can potentially yield about 505 residential units.&nbsp;<figure id="figure-mqohqn6rs5mf3f4ln0" class=""><img id="mqohqn6rs5mf3f4ln0" src="https://cdn.durable.co/blocks/17FHSApyi3n9YfJ0y6tGkyL5kq5I4LP7ey17lgQ7FmVPfL5swUjvRLGfIs9cnA3M.png" alt="" title="" class="object-cover bg-gray-100 rounded-lg md:rounded-xl lg:rounded-2xl" style="aspect-ratio: 3/2; object-position: 50% 30%;" data-corners="medium" data-aspect="3:2" data-caption="" data-positionx="50%" data-positiony="30%" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/17FHSApyi3n9YfJ0y6tGkyL5kq5I4LP7ey17lgQ7FmVPfL5swUjvRLGfIs9cnA3M.png" data-mce-style="aspect-ratio: 3/2; object-position: 50% 30%;"></figure>The tender will close at 12 noon tomorrow 4th Sep, follow by another two sites one week later.&nbsp;&nbsp;Just two months ago, on 8th July, the next door plot tender closed with seven bids, where a joint venture between Sing Holdings Residential and Sunway Developments secured the site at S$703.6 million, or S$1,376 psf ppr, a 7.3% premium over CDL’s next-highest bid of S$1,282 psf ppr.This was also the second-highest bid ever in the suburbs, following SingHaiyi’s Bayshore Road acquisition in March at S$1,388 psf ppr.Since Kingsford’s launch of Chuan Park in November last year, where 696 units (76%) out of 916 were sold, the project has now achieved 85% sales, with fewer than 140 units remaining.Will we witness another wave of aggressive bidding, especially in light of the joint venture’s potential defensive strategy?The Lorong Chuan precinct is heating up and getting more interesting.List of Sites for Tender in 2025<table style="border-collapse: collapse; width: 100%;" border="1" data-mce-style="border-collapse: collapse; width: 100%;"><tbody><tr><td style="width: 50%;" data-mce-style="width: 50%;">4th September</td><td style="width: 50%;" data-mce-style="width: 50%;">Chuan Grove (1H 2025)</td></tr><tr><td style="width: 50%;" data-mce-style="width: 50%;">11th September</td><td style="width: 50%;" data-mce-style="width: 50%;">Sembawang Road (Exec Condo)</td></tr><tr><td style="width: 50%;" data-mce-style="width: 50%;">11th September</td><td style="width: 50%;" data-mce-style="width: 50%;">Chencharu Close (Mixed Development) *</td></tr><tr><td style="width: 50%;" data-mce-style="width: 50%;">9th October</td><td style="width: 50%;" data-mce-style="width: 50%;">Dorset Road</td></tr><tr><td style="width: 50%;" data-mce-style="width: 50%;">23rd October</td><td style="width: 50%;" data-mce-style="width: 50%;">Upper Thomson Road (Parcel A) **</td></tr><tr><td style="width: 50%;" data-mce-style="width: 50%;">4th November</td><td style="width: 50%;" data-mce-style="width: 50%;">Telok Blangah Road</td></tr><tr><td style="width: 50%;" data-mce-style="width: 50%;">11th November</td><td style="width: 50%;" data-mce-style="width: 50%;">Bukit Timah Road</td></tr><tr><td style="width: 50%;" data-mce-style="width: 50%;">16th December</td><td style="width: 50%;" data-mce-style="width: 50%;">Hougang Avenue 10 / Hougang Central (Mixed Development)</td></tr></tbody></table>* The tender for Chencharu Close was extended from 22 May to 11 September to allow prospective bidders more time to prepare their submissions.** The previous tender for Upper Thomson Road (Parcel A), which included a Service Apartment (SA2) component, closed on 19 June last year without any bids.Source : Urban Redevelopment Authority

Tender Closing at Chuan Grove (1H 2025)

<figure id="figure-nkf2f9oj2fmes8wvi0" data-full-width=""><img id="nkf2f9oj2fmes8wvi0" src="https://cdn.durable.co/blocks/2xGHFDj3aHxIQQy76k3Q5DyQxmemLTZQnGq2bXri1c5biDR7u8WwtU0oiWBQ3oXM.jpg" alt="" title="" class="object-cover bg-gray-100" style="aspect-ratio: 1/1; object-position: undefined undefined;" data-corners="default" data-aspect="1:1" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="true" data-mce-src="https://cdn.durable.co/blocks/2xGHFDj3aHxIQQy76k3Q5DyQxmemLTZQnGq2bXri1c5biDR7u8WwtU0oiWBQ3oXM.jpg" data-mce-style="aspect-ratio: 1/1; object-position: undefined undefined;"></figure>Following the sale of a ground-floor retail unit at GB Building in July, another notable retail property in the Central Business District has changed hands.A caveat was lodged on 13th August for the 6,728 sq ft unit spanning levels 1 and 2 at 108 Robinson Road. The property was transacted at S$27,683,416, translating to S$4,115 per square foot.&nbsp;PGIM Real Estate acquired the freehold property at 108 Robinson Road, formerly known as the Finexis Building, in April 2021 for approximately US$107 million as part of its strategic expansion in Asia. The building subsequently underwent an asset enhancement initiative, which was completed in June 2023.Source : Urban Redevelopment Authority

Ground-floor retail unit at 108 Robinson sold for S$27.68 million

<figure id="figure-h5cmtcgimem8gmno" data-full-width=""><img id="h5cmtcgimem8gmno" src="https://cdn.durable.co/blocks/38q3EXas9L2bFoX5zZzuLxM6ZK9TdtTbe9OYRFd2stWvN2SVPGCdX48WP1Dmdmju.jpg" alt="" title="" class="object-cover bg-gray-100 " style="aspect-ratio: 1/1; object-position: center center;" data-corners="default" data-aspect="1:1" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="true" data-mce-src="https://cdn.durable.co/blocks/38q3EXas9L2bFoX5zZzuLxM6ZK9TdtTbe9OYRFd2stWvN2SVPGCdX48WP1Dmdmju.jpg" data-mce-style="aspect-ratio: 1/1; object-position: center center;"></figure>Located strategically in the heart of Singapore's bustling Central Business District, the GB Building at 143 Cecil Street consists of a retail podium, an office tower and a three-storey basement carpark. Sitting prominently on a corner land plot at the junction of Cecil Street and McCallum Street, GB Building fronts one of the most busiest and highest-traffic junctions in Singapore's Central Business District.GB Building is on a 99-year leasehold tenure from October 1982, with about 56 years remaining on the lease.&nbsp;The building enjoys excellent connectivity, with fully sheltered access to Tanjong Pagar MRT Station and both Telok Ayer and Shenton Way MRT Stations are also a short 5-minute walk away. Accordingly to a caveat lodged on 9th July 2025, the ground-floor retail unit at GB Building, covering 13,068 sq ft across the first and second floors, was sold for S$39.2 million, equating to S$3,000 per square foot.The seller had purchased the unit in July 2021 for S$25.48 million (S$1,950 psf) earning a profit of S$13.72 million after a four-year holding period, excluding stamp duties and other associated costs.The ground-floor retail unit sold was part of a portfolio at GB Building put up for sale through an expression of interest (EOI) exercise by ETC in March, at a guide price of S$45 million, or S$3,443 psf.In August 2021, The Business Times reported that this ground-floor unit was among three strata-titled units in GB Building acquired for S$52.06 million in a receivership sale. The buyer was three entities with a sole shareholder, Dia-Globe, a company engaged in the wholesale of precious jewellery.Source : Urban Redevelopment Authority

Blog

The Challenges of Today's Retail Businesses

Wisma Atria : A Pioneer in Singapore's Retail Landscape

Suntec Tower One office floor transacted at S$3,200 psf

Tender Closing at Chuan Grove (1H 2025)

Ground-floor retail unit at 108 Robinson sold for S$27.68...

Ground-floor retail unit at GB Building sold for S$39.2 m...