The Chinese mainland continues to be favoured by retailers eyeing expansion in the Asia-Pacific this year while emerging markets in Southeast Asia are also attracting rising attention, global real estate adviser CBRE said in a report released on Tuesday.
The report’s second annual edition found that 64 percent of the retailers plan to open a new store on the mainland this year, ahead of Vietnam, Hong Kong and Singapore, which came in joint second with 33 percent seeking new openings, according to CBRE.
Beijing and Shanghai top the list with 36 percent of retailers surveyed planning to open stores in the two cities this year.
ELECTRONIC CITY TO OPEN UP 20 MORE STORES IN INDONESIA
Indonesian electronic goods retailer PT Electronic City (ECII) aims to open 15-20 more stores this year as part of its capital expenditure program for 2014.
Electronic City vice president director Andreas Susanto revealed that the company would allocate IDR400 billion (USD34 million) in capital expenditure to open the new stores and upgrade its IT system.
Most of the funds were gathered from the company’s initial public offering (IPO) last year.
SOURCE: Shanghai News and The Jakarta Post
