Horror stories sell, I suppose. I’m sure journalist Andy Mukherjee from Hong Kong knows a lot about the retail REIT scene in Singapore.
Cue the usual narrative. Threat of online shopping. Retailers closing physical stores. Rents scraping bottom. Insert a picture of an empty looking building for additional impact.
Orchard Road was mentioned twice – Hmm, I wonder why.
Wait a minute. Didn’t the retail-REIT giants recently announced quarterly results?
FCT 96.0% portfolio occupancy as at end-Mar 2019. CMT 98.8% portfolio occupancy as at end-Mar 2019.What I am saying is that perspective and context matters. The retail REIT scene in Singapore, as a whole, is an unique beast that is one of a kind in this world. Trying to overlay the global perspective isn’t entirely wrong, but obviously it is more relevant to areas such as Orchard Road (and therefore Starhill REIT). While grateful for the reminder to
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