It is no surprise that a pandemic like COVID-19 that’s forced us into our homes and hospitals would bring the retail sector to its knees. Shopper traffic has dried up for countless stores and restaurants, and landlords are faced with several tenants who are unable to make rent. Many businesses have also permanently shuttered as they struggle to survive in a post-COVID world. Because of this, landlords like REITs have taken to reducing their dividend payouts in a bid to shore up cash during these tumultuous times. For example, CapitaLand Mall Trust reduced its Q1 2020 distributable income by 70.3% year-on-year — which would have been unwelcome news for many unitholders who rely on its quarterly dividends for income. However, these are exceptional circumstances and the question looking forward is whether retail REITs in Singapore can recover or even succeed in a post-pandemic world. Here’s why I think a handful of them will continue to do well....