Page 60 - May2021

roMe
Second only to Milan, the city is internationally recognised as one of the prime high
street locations in Italy and ranks as a top European high street destination. Today the
luxury market is concentrated in Via Condotti and part of Piazza di Spagna. The luxury
high street market is as strong as ever; rents in premium locations such as Via Condotti
have risen in recent years and are now primarily stable, but high. The medium -high
end retail market around Via Condotti and Piazza di Spagna is mostly pedestrianised
and comprises around 400 stores. In recent years, Rome has seen massive development
activity in its peripheral locations, with around 700,000sq m of GLA built and now has
some 46 existing retail schemes, including two super-regional shopping centres and the
largest retail park in Italy. Because of the ongoing effects on Covid-19, the pace of
new developments has slowed, with some projects being put on hold. Despite this, the
new shopping centre Maximo opened its doors and added 60,000sq m of prime retail
space to the south western quadrant of the city. Important locations are Via Condotti,
Via del Corso, Via del Babuino, Piazza di Spagna, Via Frattina, Via Cola di Rienzio and
Piazza San Lorenzo.

sHangHai
One of the four direct-administered municipalities of the People’s Republic of China,
Shanghai had a population of 24.28 million as of 2019, it is the most populous urban
area in China and the third most populous city proper in the world. Shanghai is a
global centre for finance, research, technology, manufacturing, and transportation, and
the Port of Shanghai is the world’s busiest container port. Retail sales grew 48.3 per
cent year-on-year in the first two months of 2021, as the market continues to shake off
the impact of Covid-19. Like Beijing, no new projects were launched onto the market
in Q1, keeping the total shopping mall and department store stock within the Outer
Ring Road at 13.8 million square metres. Despite a difficult 2020 for the retail industry,
international brands still favour Shanghai’s retail market, with several luxury brands
opening new stores during the first quarter this year. Over a dozen projects are now
expected to launch in the remainder of the year, bringing 1.5 million square metres of
new space to the market. In Q2, the opening of Lalaport Jingqiao, Greenland Being Fun
Putuo and Raffles City The Bund are expected to launch as this retail behemoth begins
its journey back to normality.

singaPore
The city-state is a hot magnet for expatriates and tourists, especially from Asian
countries. The Orchard shopping belt continues to serve as the city’s most prime
retail space, with locals and international tourists as its major target market. Various
well -known fashion brands and international retailers have set up businesses there,
and many global fashion labels have also reported to establish their flagship stores
in Orchard Road. Despite its physical smallness and lack of a massive consumer base,
Singapore boasts one of the key retail hubs in Asia, offering an excellent test bed for
new brands/retailers seeking an exposure to the region. Meanwhile cuisine in the city
is a showcase for its ethnic diversity. The ready availability of international cuisines has
earned this unique location its popular title “food paradise”. For fine dining and more
upmarket restaurants, Orchard Road and Marina Bay are top hotspots where many
world renowned chefs choose to locate their businesses. Major areas in Singapore for
retail are Marina Centre, Bugis, Harbour Front, Marina Bay, Orchard Road and new
entrants include Alexander McQueen, Delvaux, Rue Madame, APM Monaco, American
Eagle Outfitters and Furla.

60 RETAIL & LEISURE INTERNATIONAL MAY 2021