The retail or commercial sector has proved to be one of the most diverse real estate businesses in terms of its behaviour following the outbreak of the global Covid-19 crisis, which has varied significantly by type of asset. While the high street has remained stable, shopping centres have continued to suffer from the consequences of the health crisis.
Alejandro Campoy, Managing Director of Savills Aguirre Newman, summarises the challenges facing commercial assets: “Retail is undergoing a comprehensive transformation and will continue to evolve driven by an increase in the penetration rate of e-commerce and new consumer habits.” The Savills executive believes that the transformation that commercial players face is much more profound than those in other segments.
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