By The Manila Times
Retailers, particularly hit hard by the Covid-19 pandemic, have yet to fully get back on their feet but are hopeful that better times lie ahead despite new challenges.
Earlier this year, Colliers Philippines said that retail spaces were expected to make the fastest recovery in the property market due to the reopening of the economy and the relaxation of mobility restrictions.
“Retail will be the fastest rebound in the property sector, with sales returning to pre-pandemic levels,” Colliers Managing Director Richard Raymundo said.
Colliers Associate Director Roe Bondoc, meanwhile, said: “We are seeing greater consumer traffic, with mall operators saying that 60 percent of mall traffic is back … so that should be positive for mall space take-up.”
The property consultant anticipates “revenge shopping” to fuel growth in the retail sector.
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