Only 0.15m sq ft of retail space for 2013.
According to Maybank Kim Eng, Orchard Road retail supply is severely limited – only 0.35m sq ft of retail space can come onstream on Orchard Road (AEI at Atrium and Orchard gateway) in 2012, and even less in 2013 at 0.15m sq ft (268 Orchard redevelopment).
"Our house view is that demand for retail space CAGR of 2.8% over 2011-15 will outstrip supply CAGR of 2.4% over 2011-15. We currently value HPL’s Orchard assets alone to be worth SGD2.80/share. If redevelopment of the three assets materialises, this would add another SGD0.93/share to RNAV. "
Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)
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