HK's Sun Hung Kai Properties cuts Feb rent by up to 50% for most retail tenants [Reuters]
SUN HUNG KAI PY LTD S/ADR (SUHJY)
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Source: Reuters
HK's Sun Hung Kai Properties cuts Feb rent by up to 50% for most retail tenants HONG KONG, Feb 12 (Reuters) - Some shopping mall landlords in Hong Kong, including Sun Hung Kai Properties, the city’s largest property developer by value, are offering relief measures such as rental concession to their tenants during the coronavirus outbreak. Sun Hung Kai Properties, who owns major malls in some of the local districts that host international fashion brands ranging from Coach to Zara, said on Wednesday it would reduce February rent by 30-50% for most of its tenants, in an effort to stabilize economy and protect employment. MTR Corp, who runs malls on top some of its subway stations, said it will adjust rent for small-medium companies. For its chain and international brand tenants, it will launch relief measures after collecting their sales data. Link Real Estate Investment Trust, whose tenants are mostly small to medium businesses, also said it has set up a HK$80 million relief scheme, whi
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