Here's what local news sources are reporting about retail property in the Asia-Pacific region:
• Global investors are flocking to Singapore-based REITs, which are outperforming similar investment vehicles in other developing markets. "We're overweight on Singapore Reits," said Jan Willem Vis, Amsterdam-based senior portfolio manager at BNP Paribas. "They're attractively valued compared to other markets. Reits are a very good alternative to bonds and they pay sustainable dividends." BNP, Bank of New York Mellon Corp. and Samsung Asset have ramped up purchases of Singapore REITs since June. Bloomberg via Straits Times
• After announcing its plans to more than double its store count in China to 5,000 by 2021, US coffee chain Starbucks promoted Belinda Wong to CEO of its Starbucks China operations. Wong was previously president of the division. Fortune
• In August, Singapore's retail sales declined by 1.0 per cent compared to a year earlier, reports the Singapore Department of Statistics. Computer and telecommunications equipment sales and recreational goods were the merchandise categories that saw the biggest decline. Reuters
• Japanese retail conglomerate Fast Retailing wants to expand its Uniqlo chain throughout Greater China , doubling its store count in Macau, Hong Kong, Taiwan and the Mainland to 1,000 stores. “As we expand our business in China, it will be possible that consumers can order goods online, and receive them from their nearest Uniqlo store within a minimal period of time." said Uniqlo’s Greater China Chief Executive, Tiger Pan Ning. "That will also meet the needs from increasingly mobile Chinese consumers." Macau Business Daily
• California-based Umami Burgers is growing internationally. The company, which currently operates 24 U.S. locations, will open its first Japan store later this year. The chain wants to compete with Shake Shack in the upscale fast-casual sector, executives say. Eater
• International retailers are increasingly interested in tapping Vietnam's 90 million-person retail market. Companies from Japan, South Korea, the US and Thailand are leading the pack. VietNamNet Bridge
• In the Chinese city of Changde, in Hunan Province, developers have opened a 12-acre, $337 million "town" modeled after the German city of Hannover. Called Little Hannover, the town includes a 450-metre-long shopping street filled with German-themed shops. Daily Mail
• The Hong Kong Airport Authority wants to develop a 25-hectare mixed-use centre called SkyCity on Lantau island. Phase I, which would include a 195,000-square-metre retail centre, is planned for 2020. Nikkei Asian Review
• Tokyo's upscale Roppongi shopping district is more luxurious than ever thanks to the recent openings of retailers Barneys New York and United Arrows. Barneys New York's 1,900-square-metre store is in the Tri-Seven Roppongi centre. The 1,400-square-metre United Arrows store is at the Roppongi Hills West Walk centre. The Japan News