“The collective decision to temporarily suspend cinema operations from November could impact the rental income and footfall of 12 retail malls across REITs under our coverage, such as IGB REIT, KLCCP, Sunway REIT and CMMT, while the opening of Pavilion REIT’s new cinema could be delayed.” (File pic IGB Mid Valley Megamall)
PETALING JAYA: The temporary shutdown of cinemas is expected to be a short-term blip for local real estate investment trusts (REITs) that have malls in their stable.
CGS-CIMB, in a report yesterday, said cinemas roughly occupy between 1% and 6% of the total net lettable area of individual retail malls.
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