OUE Commercial REIT - Annual Report 2021

Future Supply Seven projects are expected to launch in 2022, bringing 726,000 sq m of new supply to the market. All seven projects are located in non-prime areas and comprise of predominantly small- to mid-sized shopping malls. With less supply pressure in 2022, retail demand can focus on existing projects, allowing occupancy rates and rents to continue their recovery. 24 23 Prime Retail Markets 4 Supply and Vacancy 24 Future Retail Supply Note: 4 Does not include reopening dates for renovated projects (%) 2014 2012 2013 2011 2019 2017 2018 2015 2016 2020 2021 250 200 150 100 50 0 (‘000 sq m) 10 8 6 4 2 0 Supply (LHS) Vacancy (RHS) Source: Savills Research Source: Savills Research 2024 2022 2023 Prime Non-prime (million sq m) 1.0 0.9 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.1 0.0 73 A N N U A L R E P O R T 2 0 2 1