I read therefore I write
This is an interesting article about increasing vacancies rate at high end shopping district at Downtown Manhattan in today’s The Business Time.
Quoted from the article “ Dusty windows on Madison Avenue. Ghostly trace of sign on Columbus Avenue. Manhattan’s top retail strip, some of which are among the world’s most expensive shopping districts, appear to have seen better days.
Once packed street are being hit by completion from emerging neighborhoods, and deep discounting fromonline retailers. In February, the heart of Madison’s shopping district had 37 vacancies or stores for rent …….. “
Situation looks similar to our high end shopping paradise – Orchard Road which is also fighting with others top shopping district in Asia Pacific like China, Korea and HKG , facing daunting challenge from filling up the right tenants and attracting enough shoppers to this district.
Although we have seen increasing tourist arrival in recent quarters, but how much money been spent in …Read the full article →