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Statistics revealed that retail sales last November declined by 1.4 per cent - the lowest year-on-year decline in almost a year. Sales during that month also rose by 1.2 per cent from October. Such statistics, along with the opening of new shopping malls and integrated resorts, have led to a bullish outlook for the retail sector in 2010. INVEST speaks with Ms Sulian Tan-Wijaya, Senior Director of Retail & Lifestlye at Savills Singapore, to gain a better understanding of Singapore's evolving retail landscape which has seen many changes over the past one year.

Generally, retailers reported slow sales, with a few exceptions... Many affluent shoppers chose to spend less lavishly, due either to the economic uncertainty or the desire to be politically sensitive and not wanting to flaunt their wealth.

Retail leasing activities slowed from 2008 as newer malls like 313 Somerset, ION Orchard and Mandarin Gallery were close to achieving full occupancy if not already full. While many retailers reported slower business, the F&B sector continued to thrive, especially the mass to mid-end dining concepts. We managed to secure new spaces for quite a few F&B operators who were looking to expand.

Last year was very exciting for Savills Retail & Lifestyle. We had started this business with just me, a desk and my laptop, and later the Blackberry. My team only grew to three during the second half of 2009.

Starting up a new business with a one-man team immediately after the economic crisis took a lot of faith, courage and determination. I am just so thankful that my team and I managed to close the year with a respectable portfolio, many new leases, and new concepts. Moreover, we also met our budgeted revenue against all odds.

The competition was relentless and we were up against a few established firms with much larger teams. It felt really gratifying when we managed to secure two prime new projects on top of the regular leasing retail consulting businesses.

Real estate retail consultancy is probably one of the most complex among real estate consultancy businesses. We are not allowed to advertise retail spaces and we are expected to match tenants with retail spaces based purely on our good relationships with landlords, retailers and F&B operators. It is unlike the residential or commercial sectors where you can advertise a house or an office space in the classified ads' section and interested buyers or tenants can call you for viewings.

Without a good relationship with landlords, you would not have retail spaces to market. Without a good database and relationship with tenants, you cannot lease the space. Without strong fundamental and market knowledge about retail and F&B, you will not know where to begin.

The competition here is also very relentless. Each time you look the other way, a competitor will move in and try to snatch away your business. That explains why whenever we do manage to work closely with a competitor on a deal, we really treasure that partnership.