Property News · April 3, 2020

Hong Kong retail rents might need to be halved for tenants, landlords to survive coronavirus outbreak, developer says


Hong Kong’s retail landlords might have to cut rents by 50 per cent to attract new tenants amid a worsening outbreak of the novel coronavirus, one of the city’s richest developers said.“For these few months, you’ll probably see a 50 per cent cut in rents for the retail sector, or even more,” Edwin Leong Siu-hung, founder of property developer Tai Hung Fai Enterprises, said in an interview. His company has more than 1,000 tenancy agreements all over Hong Kong, including offices, serviced flats,…

Source : South China Morning Post
Read more…Hong Kong retail rents might need to be halved for tenants, landlords to survive coronavirus outbreak, developer says

You may also like...