Agent.sg / Property news / S-Reit universe may soon welcome a new asset class: grocery-anchored malls

S-Reit universe may soon welcome a new asset class: grocery-anchored malls

A NEW asset class may soon be added to the Singapore Reit (S-Reit) universe later this year: grocery-anchored malls.

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They may not seem exciting but property trusts anchored by these bread and butter businesses are seen as safe havens amid the challenges retailers are facing today.

Proponents of the asset class, which is a norm in the United States and Britain, tout the resilience of necessity shopping and non-discretionary spending, as well as the fact that people still prefer to see, smell and touch the food they buy.

As Phillips Edison Grocery Center Reit III, one of the largest owners and operators of grocery-anchored shopping centre in the US, put it: "There is no way to virtually thump a watermelon, or smell the freshness of that day's peaches..."

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