Retail in Asia

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Retail revolution

The global retail industry is counting on Asia to lead growth in the coming years as the region’s consumers become more affluent and its cities expand, leading to the creation of new shopping venues of all shapes and sizes.

"Active real estate development has driven the supply of quality and organised retail space in Asia," said Henry Chin, head of Asia Pacific research with the US-based real-estate firm CB Richard Ellis (CBRE). "This has translated into the ongoing entry and expansion of overseas retail brands in the region to exploit new business opportunities and offset the slowdown in their home countries."

The total supply of retail space in the region exceeded 65 million square metres (sq m) last year. By the end of this year, another 20.4 million sq m will be completed. China boasts the most new space in the region, with aggregate completion of around 3.2 million sq m.

(Source: Bangkok Post)