HONG KONG • Singaporeans aren't spending like they used to, at least not in shopping malls. There are too many already and more are being built. But investors still have good reasons to back mall owners.
The city state has 6.1 million sq m of retail space, of which 8.7 per cent is vacant. Yet companies are forecast to add a further 364,000 sq m, with the biggest chunk hitting the market this year.