For years, some investors believed that e-commerce would replace shopping malls. Weaker retail assets have indeed struggled, but many high-quality malls continue to enjoy strong footfall, healthy tenant demand, and positive rental growth. Here are three Singapore retail real estate investment trusts (REITs) holding their ground against the structural shift to online shopping. Why E-commerce Hasn't Killed Every Shopping MallPhysical retail still has advantages that e-commerce cannot replicate. Committed portfolio occupancy stood at 95.2% as at 31 March 2026, with retail at 97.8% and office at 93.7%.