More retail and hospitality space being converted to office use
Cinemas are also being used for power naps, nightclubs as dining spots and lunch venues as dance studios
Singapore
THE blurring of lines between property asset classes to optimise the use of real estate will become more commonplace, especially for retail and hospitality landlords whose properties face steep challenges because of Covid-19.
Property consultants expect more owners of retail properties to obtain planning permission from the authorities to convert part of their premises to office use, amid the lower footfall and sales faced by retail operators.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2