Rebirth in a new body

No one needs to be reminded that the retail sector has been through an extremely tough time of late.

We all remember walking around empty shopping centres, when the only shops open in them were the supermarkets, pharmacies and drugstores. We can also recall the government imposing further restrictions and lockdowns and the tense negotiations that took place between tenants and landlords. Happily, all of this is now fading into the past. Consumers are once again eagerly returning to malls to make their purchases, as has been confirmed by the improving sales and footfall figures. Owners, too, are feeling more confident and announcing increasingly ambitious plans for the reconstruction and expansion of their shopping centres as new brands are added to their tenant mixes. Funds, however, are finally giving up on the idea of buying them up for bargain-basement prices. So it seems things are getting back to normal, although maybe not quite in the same way as before. And that can’t be a bad thing, because we’re all craving for a bit of normality.