Suntec Reit sees subdued retail sales, expects office, retail tenants to hold off expansion plans
Its convention centre portfolio has yet to show signs of weakening as a result of the trade tariffs imposed by the US
[SINGAPORE] Office and retail tenants are expected to hold off on their expansion plans amid uncertainty over the impact of US tariffs, said the manager of Suntec Reit .
Speaking at the real estate investment trust’s (Reit) financial results briefing for Q1 on Friday (Apr 25), Dawn Lai, chief operating officer of the manager, said that tenants have “become more cautious” as they are uncertain about the impact of the US’ tariffs.
“We expect (expansionary tenants’) decisions to be a bit more prolonged and delayed, and maybe they would decide to hold (expansion) off for a while,” she said.
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