The retail sector continued to face some challenges despite the recovery recorded in wider macroeconomic indicators. The effects of a fairly stable naira, reduced inflationary pressure and the economy’s emergence from recession are yet to have significant ripple effects on the retail sector.We expect that developers who are keen to commence new projects will adapt their plans given the realities of oversupply, a shallow tenant pool and slower leasing activity in the market. Mall sizes are likely to be smaller than previously seen, incorporating a wider range of uses in their concepts and designs.
