Written reply to PQ on data on space within reit-owned malls occupied by retail brands, broken down by brands' country of origin

Question:

Ms Valerie Lee: To ask the Deputy Prime Minister and Minister for Trade and Industry whether the Ministry can provide, for end-2022 and for the most recent data, a comparison of the percentage share within REIT-owned malls of (i) total Gross Floor Area and (ii) number of units, respectively, which are occupied by retail brands, grouped by country of origin for the brand, regardless of local ownership, franchise, or partnership structures under which tenants operate the brands.

Written Answer by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong

1.           The Government does not collect data on the profile of tenants in privately owned or REIT-owned malls. Tenancy mix and tenant profiles in commercial developments are the result of commercial decisions made by both property owners and tenants, and reflect market factors such as consumer demand preferences and prevailing economic conditions. While the Government may not be privy to detailed commercial data of individual commercial properties, we monitor aggregated market trends as well as engage regularly with industry associations, SME representatives and property stakeholders to understand the ground.