Outlook
Outlook
With the recent improvement in the direct investment market, the fund continues to consider the sale of non-core assets as part of the ongoing debt reduction programme.
At the asset level, consumer demand held up well during 2009 which produced some stability for retail customers. As such demand for our properties has remained resilient but there is concern over the impact of the anticipated fiscal measures on disposable incomes in the short to medium term.
We believe that with an appropriate level of investment the core Mall portfolio, being both locally dominant and value orientated, should continue to show relative resilience.
