SINGAPORE (Apr 14): Pent-up demand within the consumer discretionary space as China comes out of a lockdown could benefit Sasseur REIT’s outlet malls, according to DBS Group Research.

All four outlet malls in Sasseur REIT’s portfolio reopened around mid-March. And shoppers have come flocking back.

“Reopening sales had since been launched at all outlet malls and saw encouraging first day sales that were 129% higher than that achieved during the corresponding dates last year on a blended basis,” says analyst Derek Tan in an April 14 report.

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