The local branch of real estate services and investment management company Colliers international released its Retail Space quarterly report this week.

The reports highlights the growth (+5% QoQ) and modernisation of available retail space in Yangon due to the recent openings of Times City and The Secretariat. The trend will continue in 2020, with more than 30,000 sq. m. of additional leasable area to be put on the market thanks to the planned openings of M Terminal and M Tower (Mottama Holdings), The Central Boulevards Phase 1.2 (Marga Landmark), The One Shopping Mall (Creation Myanmar Group of Companies), and Inno City (Inno Company holdings).

Colliers further explains that citywide occupancy remains strong at 89% while expecting rental rates to gradually increase in 2020 and onwards.