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Tsim Sha Tsui Retained Its Position as the World’s Fourth Most Expensive Shopping Street
- In the 35th edition of Cushman & Wakefield’s Main Streets Across The World report, Hong Kong’s Tsim Sha Tsui maintains its global ranking position as the world’s 4th most expensive retail street; whilst the area continued to top the APAC ranking as region’s the most expensive retail destination
- Rents on New Bond Street ($2,231 per square foot per year) have leapfrogged Milan’s Via Montenapoleone and New York’s Upper Fifth Avenue to top the global rankings
- 58% of tracked retail streets saw rent increases, reflecting demand for space far exceeding availability
HONG KONG SAR – Media OutReach Newswire – 19 November 2025 – London’s New Bond Street, where rents have risen by 22% in the past year to $2,231 per square foot per year (psf/yr), has been crowned the world’s most expensive retail destination for the first time, according to Cushman & Wakefield (NYSE: CWK).
New Bond Street has leapfrogged Milan’s Via Montenapoleone ($2,179 psf/yr), which last year became the first European street to top the global rankings, and New York’s iconic Upper Fifth Avenue ($2,000 psf/yr), in the 35th edition of the firm’s flagship retail report ‘Main Streets Across the World’.
New Bond Street’s rental growth has been fuelled by strong demand and limited supply, with the prime jewellery section between Clifford Street and Burlington Gardens becoming one of the most fiercely contested locations in global retail.
Globally, rents grew on average at 4.2% with 58% of markets experiencing rental growth. The Americas led regional rental growth at 7.9%, driven by currency effects in South America. Europe experienced steady 4% year-on-year (y-o-y) growth, with standout performances in Budapest and London. Meanwhile rents in Asia Pacific slowed to 2.1%, with strong growth in India and Japan offset by economic headwinds in Greater China and Southeast Asia.
Report author and Cushman & Wakefield’s Head of International Research, Dr. Dominic Brown, said:
“Prime retail corridors are benefiting from a convergence of factors including resilient economic growth, easing cost of living pressures, and a renewed appetite for discretionary spending. While growth trajectories will vary by market, the strength of flagship locations is clear. We’ve seen exceptional double-digit rental growth in select cities, even as others face pressure. The continuing importance of physical retail, particularly for deep and meaningful brand engagement in places where consumers want to be, reinforces the enduring appeal of the world’s premier shopping streets and we expect this momentum to strengthen as global conditions improve.”
Table 1: Main Streets Across the World – Global Ranking by Market 2025
| Global Ranking 2025 | Global Ranking 2024 | Location | Rent (USD/sq.ft/yr) | Rent (EUR/sqm/yr) | YOY (LCY) |
| 1 | 3 | New Bond Street, London | $2,231 | €20,482 | 22% |
| 2 | 1 | Via Montenapoleone, Milan | $2,179 | €20,000 | 0% |
| 3 | 2 | Upper Fifth Avenue (49th to 60th Sts), New York | $2,000 | €18,359 | 0% |
| 4 | 4 | Tsim Sha Tsui (main street shops), Hong Kong | $1,515 | €13,907 | -6% |
| 5 | 5 | Avenue des Champs Élysées, Paris | $1,364 | €12,519 | 0% |
| 6 | 6 | Ginza, Tokyo | $1,257 | €11,538 | 10% |
| 7 | 7 | Bahnhofstrasse, Zurich | $1,051 | €9,644 | 0% |
| 8 | 8 | Pitt Street Mall, Sydney | $795 | €7,294 | 4% |
| 9 | 9 | Myeongdong, Seoul | $653 | €5,997 | 1% |
| 10 | 10 | Kohlmarkt, Vienna | $601 | €5,520 | 2% |
| Source: Cushman & Wakefield | |||||
Asia Pacific highlights
Rental growth in Asia Pacific slowed from 2.8% in 2024 to 2.1% in 2025, though performance varied widely across markets. India’s Tier 1 cities led the region, with Gurgaon’s Galleria Market recording a 25% increase, followed by Connaught Place in New Delhi (14%) and Kemps Corner in Mumbai (10%). Japan’s Ginza and Omotesando in Tokyo saw strong growth of 10% and 13% respectively, while rents in Hong Kong’s Tsim Sha Tsui declined by 6% to $1,515 psf/yr. Sydney’s Pitt Street Mall recorded modest growth of 4%, reaching $795 psf/yr, marking a return to positive momentum after years of stagnation.
Hong Kong continued to feature strongly on the global rankings, holding its position as the fourth most expensive shopping location worldwide and the most expensive in the APAC region. Cushman & Wakefield’s Hong Kong Managing Director John Siu, said:
“We are pleased to see Hong Kong firmly maintaining its position as one of the world’s premier retail destinations, with Tsim Sha Tsui once again topping the list as the most expensive retail destination in the APAC region. This reflects the steady growth in visitor arrivals to Hong Kong, coupled with the government’s proactive efforts to promote tourism and the ‘mega events economy,’ which have supported more tourist spendings and boosted leasing activity among retail brands in prime street locations. In fact, since the border reopening, the market has recorded a series of leasing transactions involving retail brands opening their first stores in Hong Kong, most of which have chosen to establish their initial presence in the four core shopping districts. We believe that in the short to medium term, in addition to sustained activity from domestic brands, the market will continue to see more leasing activity from retail brands across the APAC region.”
Table 2: Main Streets Across the World – Asia Pacific Ranking by Location 2025
| APAC Ranking 2025 | APAC Ranking 2024 | Market | City | Location | Rent (USD/sf/yr) | Rent (EUR/sqm/yr) | YOY (LCY) |
| 1 | 1 | Greater China | Hong Kong | Tsim Sha Tsui (main street shops) | $1,515 | €13,907 | -6% |
| 2 | 2 | Greater China | Hong Kong | Causeway Bay (main street shops) | $1,374 | €12,610 | -4% |
| 3 | 3 | Japan | Tokyo | Ginza | $1,257 | €11,538 | 10% |
| 4 | 4 | Japan | Tokyo | Ometesando | $1,028 | €9,441 | 13% |
| 5 | 5 | Japan | Osaka | Midosuji | $914 | €8,392 | 14% |
| 6 | 6 | Australia | Sydney | Pitt Street Mall | $795 | €7,294 | 4% |
| 7 | 7 | Greater China | Hong Kong | Central (main street shops) | $726 | €6,669 | 1% |
| 8 | 8 | Japan | Tokyo | Shinjuku | $686 | €6,294 | 0% |
| 9 | 9 | South Korea | Seoul | Myeongdong | $653 | €5,997 | 1% |
| 10 | 10 | South Korea | Seoul | Gangnam Station | $578 | €5,302 | 4% |
|
Source: Cushman & Wakefield |
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Link to the full report and full global rankings here: LINK
Hashtag: #CushmanWakefield #GlobalRetailStreets #RetailRealEstate #LuxuryRetail #PrimeRetail #HongKongRetail #APACRetail #MarketResearch #RetailTrends #CommercialRealEstate
The issuer is solely responsible for the content of this announcement.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2024, the firm reported revenue of $9.4 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (
https://www.linkedin.com/company/cushman-&-wakefield-greater-china).
Media OutReach
Siam Piwat redefines global retail with NEXTOPIA, a future prototype where sustainability is a transformative force for business, people, and the planet
Chief Executive Officer Chadatip Chutrakul introduced the project during The Economist’s 5th annual Sustainability Week Asia, recently held in Bangkok, positioning NEXTOPIA as more than a response to necessity but as a genuine driver of business leadership and vision.
The vision for the future of retail is built on three interconnected pillars: co-creation with founders and partners, collaboration with tenants and communities, and customers. Together, they redefine retail as a platform shaped by shared purpose, creativity, and participation. This extends to redefining customer relationships through trust, inspiring customers to visit more often, spend more time, and deepen engagement within our ecosystem.
“Sustainability is no longer optional,” Chutrakul said. “We must accelerate and make a bold move. Real, lasting impact is never created alone. It requires co-creation across industries, united by purpose, in a place that captures the world’s attention and inspires change for the greater good.”
Launched in November 2025, the 15,000-square-meter attraction at Siam Paragon, a global landmark that draws more than 200,000 visitors daily, including a significant share of international tourists aims to move sustainability “beyond awareness into joyful and engaging experiences in everyday life,” she added.
Developed with more than 50 partners, NEXTOPIA operates under the theme “Co-creating Communities for a Better World.” It features infrastructure contributions from companies including B.Grimm, SCG, Indorama and Kasikornbank, incorporating solar energy, sustainable materials, advanced water systems, and cooling and clean air technologies.
The project has achieved zero waste to landfill, cut energy consumption by 47%, reduced water use by 34% and lowered carbon emissions from construction materials by 59%. Within a year, water savings are projected to be equivalent to the volume of an Olympic-sized swimming pool. Over two years, decarbonization efforts will deliver the environmental benefit of creating a vast urban park.
NEXTOPIA is Thailand’s first multi-tenant retail building to earn EDGE Advanced certification for resource efficiency and a two-star Fitwel rating. It also received the Best in Building Health Award 2026 from Fitwel, achieving top scores for its design and quality-of-life features.
Tenants must adhere to some 50 sustainability criteria covering waste management and value chain practices, with many exceeding standard industry benchmarks. Siam Piwat developed the framework over three years to help partners adopt sustainable practices quickly while cutting costs and unlocking new value.
Interactive elements at NEXTOPIA invite visitors to participate directly, with kinetic floors and bicycles that generate electricity for redeemable rewards, alongside exhibits featuring Thailand’s largest collection of recycled art, created by artists from waste collected nationwide. ECOTOPIA, the country’s biggest eco-store, stocks more than 110,000 sustainable products, many recycled or upcycled, sourced from around 300 Thai communities and small businesses.
The project has also brought together more than 30 local communities and global organizations, including the United Nations, World Food Programme, UNDP Biofin and WWF, to exchange knowledge and ideas.
More than a shopping destination, NEXTOPIA functions as a living laboratory for experimenting and exchanging ideas that retail and real estate developers worldwide could adapt. It marks a strategic evolution for Siam Piwat, transforming the company from a premier retail developer into what it describes as “a global sustainability platform” that links businesses, people and innovation.
This shift aligns with intensifying global pressure on companies to meet their sustainability commitments under the Paris Agreement, as brands and consumers increasingly demand verifiable environmental action.
With NEXTOPIA, Siam Piwat is betting that the future of retail lies not just in selling goods, but in creating spaces where sustainability feels tangible, measurable and above all inspiring.
Setting a new benchmark for co-created, revolutionary retail, NEXTOPIA offers a scalable model that delivers both business value and meaningful impact – one that can be adopted globally.
Hashtag: #SiamParagon #NEXTOPIA #Sustainability #PrototypeCity #NetZero #TheEconomist #SustainabilityWeekAsia
The issuer is solely responsible for the content of this announcement.
About Siam Piwat
Siam Piwat is a leading retail and real estate developer behind Bangkok’s most iconic destinations, including Siam Paragon, Siam Center, Siam Discovery, ICONSIAM, and Siam Premium Outlets Bangkok, globally recognized for pioneering experiential destinations.
For over six decades, Siam Piwat has been renowned for creating iconic destinations and world-class experiences, continuously redefining Bangkok’s retail landscape through award-winning developments that set new global benchmarks. Guided by creativity, innovation, and sustainability, the company continues to lead with a bold vision s that inspire, engage, and delight customers from around the world, while creating long-term value for society, businesses, and future generations.
Media OutReach
DTAP Expands Access to Sexual Health Services with Two New Clinics in Holland Village and Clarke Quay
As healthcare-seeking behaviours continue to evolve, there has been a noticeable shift towards earlier and more proactive screening, especially for sexually transmitted infections (STIs) and HIV. Increasing public awareness of the importance of timely testing and treatment has driven demand for accessible, confidential care delivered in a professional clinical setting. The expansion into Holland Village and Clarke Quay reflects this shift, with both clinics designed to offer a comfortable and private environment that supports individuals in seeking care with confidence.
DTAP operates as a GP+ medical centre, bridging the gap between general practice and specialist care. Fully accredited for HIV and STD testing and treatment, its clinical protocols adhere to Singapore Ministry of Health (MOH) guidelines, covering the full continuum from screening and early detection through to treatment and long-term management. Beyond sexual health, DTAP also supports men’s and women’s health, weight management and mental health.
Clinics are staffed by experienced doctors — both male and female — who take a friendly, open and non-discriminatory approach, ensuring patients can seek care with confidence and discretion.
“This expansion builds on DTAP’s longstanding commitment to accessible and confidential care, with over 20 years of experience since 2005. We are seeing a clear shift towards more proactive health-seeking behaviour, particularly in sexual health, with more patients coming forward earlier for screening and testing, including for conditions that were previously under-discussed. This highlights the importance of timely detection and access to care, supported by a discreet, comfortable environment with experienced doctors who provide care in a respectful, open and non-discriminatory manner,” said Dr. Alan Tan, Chairman of DTAP Clinics.
DTAP Clinic @ Holland Village and DTAP Clinic @ Clarke Quay are now open to patients. For more information on services, visit https://dtapclinic.com/.
Hashtag: #DTAP
The issuer is solely responsible for the content of this announcement.
About DTAP
DTAP clinics offer GP+ medical services, bridging the gap between general practice and specialist care. Established in 2005, DTAP provides services that extend beyond regular GP offerings, with key focus areas including men’s health and women’s health, including sexual health, STD check, weight management and mental health. Through all life stages, DTAP aims to be a trusted healthcare partner in both general and sexual health.
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TP’s AI-powered debt collection solution recovers up to 40% debt, improves efficiency and saves costs
Collections are emerging as a critical lever for both financial performance and customer retention. Regional institutions including the Asian Development Bank have identified digital transformation of financial services and credit infrastructure as a strategic priority across Asia, while rising consumer delinquencies are increasing pressure on banks to modernise servicing and collections operations.
However, debt collection remains one of banking’s most complex challenges, as lenders struggle to improve recovery rates without damaging customer relationships. AI-driven, human-supported debt collection models are emerging as a potential way forward to help lenders tackle rising credit risk and changing borrower behaviour. TP.ai FAB Collect is designed by training AI on decades of human collections expertise and deploying it where volume demands scale, so human advisors can focus on preserving customer relationships.
From Recovery to Relationship Management
TP.ai FAB Collect empowers lenders to operationalise more predictive, customer-centric engagement at scale, moving beyond traditional recovery models without adding friction to the customer experience. Built on TP’s proprietary TP.ai FAB (Foundational AI Backbone) framework, the solution integrates advanced analytics, AI-driven decisioning, and omnichannel engagement to improve recovery outcomes while maintaining compliance and customer trust.
“We trained our AI on 40 years of human collections expertise. Now it handles the first wave, so our human advisors can focus on the conversations that truly matter. TP.ai FAB Collect has produced results across debt recovery, promise-to-pay and overall customer satisfaction.” explains Assaf Tarnopolsky, TP’s Chief Business Development & Customer Officer, APAC.
When deployed by a leading financial institution, TP.ai FAB Collect’s AI agents achieved a customer satisfaction (CSAT) score that was slightly higher than human agents while also achieving a 40% debt recovery rate. At a leading telecommunications company, AI agents adapted outreach to customers based on local payment behaviour, achieving a 7%-point improvement in the pay-to-contact ratio compared to the human-only model. The solution also improved recovery performance over time while reducing collections costs by 40% compared to a human-only model.
TP.ai FAB Collect was recognised with a 2026 Artificial Intelligence Excellence Award by the Business Intelligence Group and was named Technology of the Year by the Excellence in Customer Service awards.
Hashtag: #TPAPAC #TPaiFAB
https://www.tp.com/
TP Group, a global leader in digital business services which consistently seeks to blend the best of advanced technology with human empathy to deliver enhanced customer care that is simpler, faster, and safer for the world’s biggest brands and their customers. The Group’s comprehensive, AI-powered service portfolio ranges from front office customer care to back-office functions, including operations consulting and high-value digital transformation services. It also offers a range of specialized services such as interpreting and localization, visa and consular services, and recruitment process outsourcing services. The teams of multilingual, inspired, and passionate experts and advisors, spread in close to 100 countries, as well as the Group’s local presence allows it to be a force of good in supporting communities, clients, and the environment.
For more information: www.tp.com.
https://www.tp.com/en-sg/locations/singapore/
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