Neighbourhood malls 'resilient' amid volatility.

HEKTAR real estate investment fund (Hektar REIT), the owner of Subang Parade in Selangor and Mahkota Parade in Malacca, believes that neighbourhood malls are more resilient in an economic downturn than their larger peers.

All recent economic data point to a deep world recession this year and Malaysia will not be spared the turmoil.

Most private-sector economists now expect Malaysia's economy to grow slower than the government's forecast 3.5 per cent this year, while some even predicted a contraction.

If the recession is prolonged, it will eventually have an effect on consumer spending and, ultimately, shopping, said Zalila Mohd Toon, chief financial …