Published:
Retail REITs under threat from massive mall glut
Watch out for Downtown Core malls.
Retail REITs are under threat from a massive supply of mall space that is expected to come onstream this year and beyond.
Data from Maybank Kim Eng show that some 4.9m sf of space will steadily stream in all the way till 2017.
“This averages 1.6m sf pa, when net absorption historically averages only 1.0m sf. Islandwide vacancies could rise in the next three years,” stated the report.
Most of these malls will be located in the Central Region, where supply will be two to three times greater than its historical annual absorption.
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