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Retail real estate outlook: Optimism grows despite rising costs

The Shoppes at Marina Bay Sands in Singapore. Source: Bigstock
Retail sentiment has turned positive across most of the Asia-Pacific retail market as the Covid-19 pandemic’s impact has waned and business momentum has recovered.  Half of the respondents to CBRE’s 2023 Asia Pacific Retail Flash Survey reported that sales during the second half of the year surpassed pre-pandemic levels. However, most mainland Chinese respondents said the opposite due to pandemic restrictions, which remained in force at the time of the survey. Looking ahead to this year, 72