Retail slump: One Raffles Place is latest to suffer

24 May 2017

The Straits Times, 24 May 2017 - Article highlighted the closure or impending closure of bigger tenants at the One Raffles Place shopping mall. Out of 113 tenants, at least 14 have closed and at least another 13 will be moving out by next month when their three-year lease ends. Ms Sarah Lim, senior retail lecturer at SP’s Business School, opined that the malls in the Central Business District, such as One Raffles Place, are hit harder by the retail slump than those in Orchard Road, because of office workers' limited shopping hours and minimal tourist traffic.

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