• Retail market sentiment remained fragile in Q4 2020 amid the ongoing pandemic.
  • Leasing activity was subdued despite the approaching festive season, with demand from luxury retailers almost non-existent.
  • Several short-term leases helped pull down vacancy on tier I streets in the four core retail districts.
  • Overall high street rents continued to fall but shopping mall rents were stable as developers invested in marketing and other promotional campaigns to support tenants.