SHOPPING CENTRE PERFORMANCE: EFFECTS OF REITS & NON-REITS OWNERSHIP

Abstract

Real Estate Investment Trust known as REITs, have existed in the investment market for a few decades. Most of the existing REITs literature covers issues like dividends and yields derived from REITs investment. There have been no studies done on shoppers' perception of REITs. Arising from the above concerns, the main focus of this research is to investigate shoppers' perception of shopping centre under REITs and non-REITs ownership and shoppers' choice of shopping centre. Our secondary focus will be the aspect of yields derived from REITs. Rental will be used to investigate the shopping centre performance. Using Tampines Mall and Century Square as case studies, the survey findings reflect that for shopping centre under REITs ownership, shoppers have better perception in shopping centre, ownership and management attributes. In the rental analysis, it reflects that the shopping centre under REITs ownership performs twice better in comparison with the shopping centre under non-REITs ownership. The shopping centre findings have significant implications for retailing research. It is important to consider these relevant factors in REITs and retailing research.