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Lower interest rates, resilient Singapore retail sector behind surge of mall deals
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An observer said people either buy a not-so-good mall, do asset enhancement, and drive the occupancy up, or they buy one like Paragon that is a “stable cash cow”.
BT PHOTO: TAY CHU YI
SINGAPORE – Malls in Singapore seem to be hot property recently, with i12 Katong and Paragon getting new owners, Plaza Singapura getting a $160 million upgrade, and news of White Sands up for sale.
This is despite geopolitical issues arising from the Iran war that could curb people’s spending, and lead to slower economic growth globally.
