Property News · August 6, 2021

Hong Kong shopping centre landlord Wharf Reic reports 10 per cent increase in first-half revenue, rues absence of tourists


Although retail sales might have bottomed out in Hong Kong, rental incomes will remain under tremendous pressure until border controls are relaxed, according to Wharf Real Estate Investment Company (Reic), the owner of shopping centres Harbour City and Times Square.Vacancies and weaker market rents continued to depress rental incomes, the company said in a results filing to the stock exchange on Thursday.“To landlords, this is obvious. Retail rents in the market have been falling gradually,”…

Source : South China Morning Post
Read more…Hong Kong shopping centre landlord Wharf Reic reports 10 per cent increase in first-half revenue, rues absence of tourists

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