Orchard Road SingaporeAccording to a report released from CBRE, Singapore is the world’s second hottest city for retail market, attracting 58 new retail market, hitting it double from the 24 brands in the previous year.

The study shows that Orchard Road stays the most famous shopping spots despite of extreme competition from other malls in suburban, with Orchard Gateway and recently completed Shaw Centre offering more space for retail expansion.

Numerous shopping centre at Orchard Road will be a benefit for residents around the area, including residents at Sophia Hills Residences, JJ Residence and  Liv on Wilkie.

Tokyo is the hottest for new retailer expansion in the world featuring 63 new retail brands, second is Singapore with 58 new retail brands, Abu Dhabi in third place with 55 and Taipe for the fourth spot with 49, while the fifth place is tied by Dubai and Hong Kong with 45 new retail brand.