Retail rents to ‘rebound slowly’ – stakeholder

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By The Manilas Times

THE retail rents in the country are seen to “rebound slowly” by next year, an industry stakeholder said.

In the virtual Asia Real Estate Forum on Tuesday, Philippine Retailers Association President Rosemarie Ong said consumer confidence is expected to improve in the fourth quarter this year, which will then boost mall traffic.

“The improving inoculation program should also improve business and consumer confidence and this should play a crucial role in raising consumer confidence, mall traffic and, of course, retail rates,” she said.

Ong added that retail space supply in the sector is also likely to recover next year as retailers “prepare to recapture pent-up demand.”

 

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