He stated that despite the threats, real estate sector remains the asset of choice for investment as growth and opportunities in the various subsectors are expected.
This problem, he said is compounded by the fact that majority of land registries are still manually operated. Ashafa said “Demand on retail properties such as malls which had been adversely affected by the effects of Covid-19 is likely to pick up, albeit slowly, due to the economic downturn. In the long run however, demand will pick up with some adjustments such as online shopping, increased use of retail apps. In the Industrial sub-sector, demand for more warehouses and logistics will increase due to the impact of COVID-19 and the shift from physical stores to online shopping.
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