While going out on weekends, you may have noticed that malls in Singapore are packed with crowds. With a vaccine roll-out, the path to recovery for the economy is becoming clearer & brighter and this is certainly welcome news for REITs. The Recovery Is Underway Vivo City (owned by Mapletree Commercial Trust) last reported that tenant sales were back to 80% levels in September. This bodes well considering how much more packed malls are this last 3 months. The lack of travel has also meant that malls which cater to predominantly locals are reaping the benefits of pent-up demand. Benefiting from a Low-Interest Environment  While the first few months of the year were undoubtedly rough for REITs, loose monetary policy has provided an unexpected tailwind too. Well run REITs have managed to reduce their average cost of borrowing significantly while extending their average term to maturity. Mapletree Commercial Trust for example has seen its weighted average...