Asia's retailers upbeat in Q3

Asia's retailers upbeat in Q3

SINGAPORE: Asia's retail sector generally reported upbeat
rental and occupancy rates in the third quarter of 2005 with
China, Hong Kong, Taiwan and India particularly buoyant, a
property consultancy's report said on Thursday.

The scenario was mixed elsewhere, with average retail rents in
Bangkok largely unchanged, and Jakarta's dropping 6.3 percent
from the second quarter, said CB Richard Ellis (CBRE).

CBRE said retail rents in Hong Kong rose 5.2 percent quarter-
on-quarter driven by ongoing strong consumer sentiment.

Demand for specialty stores and exhibition halls and expanding
convenience stores accounted for Beijing's prime retail rent
index registering a quarter-on-quarter hike of 1.6 percent.

Average monthly rent for prime ground-floor space in Shanghai
rose 6 percent quarter-on-quarter.

Property close to the metro line in New Delhi experienced "a
big jump in prices, and rentals having gone up by as much as 50
percent to 60 percent in some of the most desirable locations",
CBRE said.

Prominent developers are stepping up the construction of malls
lifted by the expectation of a bigger percentage of foreign
direct investment being allowed soon.

The retail sector in the Philippines jumped 22 percent
year-on-year from January through July. CBRE forecast it will
exceed US$9.4 billion for the whole of this year.

A dip in consumer confidence and rising domestic inflation
were blamed for Bangkok's less than illustrious performance.

The retail sector in Indonesia's capital faces saturation with
a growing supply of shopping centers, CBRE noted. -- DPA