{"id":117908,"date":"2020-07-22T08:45:06","date_gmt":"2020-07-22T01:45:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-biggest-shopping-centre-harbour-city-offers-rent-concessions-and-shocks-tenants-with-lease-renewal-terms\/"},"modified":"2020-07-22T09:09:55","modified_gmt":"2020-07-22T02:09:55","slug":"hong-kongs-biggest-shopping-centre-harbour-city-offers-rent-concessions-and-shocks-tenants-with-lease-renewal-terms","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-biggest-shopping-centre-harbour-city-offers-rent-concessions-and-shocks-tenants-with-lease-renewal-terms\/","title":{"rendered":"Hong Kong\u2019s biggest shopping centre Harbour City offers rent concessions and shocks tenants with lease renewal terms"},"content":{"rendered":"


\nThe owner of Hong Kong\u2019s biggest shopping centre is offering its tenants additional rent concessions, with a catch: extend the leases for at least 18 months in a market facing a third wave of coronavirus infections.The tactic has come as a shock to retailers at Harbour City, an upmarket mall located in Tsim Sha Tsui tourist district that is vying with Causeway Bay for dwindling visitors in the city. The mall, ultimately owned by Wharf Reic, has asked its 400-odd tenants to decide by July 24 in\u2026
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\nSource : South China Morning Post
\nRead more…Hong Kong\u2019s biggest shopping centre Harbour City offers rent concessions and shocks tenants with lease renewal terms<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The owner of Hong Kong\u2019s biggest shopping centre is offering its tenants additional rent concessions,...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-117908","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-uFK","jetpack-related-posts":[{"id":118613,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/harbour-city-offers-more-concession-to-beleaguered-tenants-but-dozens-refuse-to-sign-up-as-they-find-terms-stifling\/","url_meta":{"origin":117908,"position":0},"title":"Harbour City offers more concession to beleaguered tenants but dozens refuse to sign up as they find terms stifling","date":"September 15, 2020","format":false,"excerpt":"\r Hong Kong\u2019s biggest shopping centre Harbour City, owned by Wharf Real Estate Investment Company, has yielded to pressure from tenants, backing down from its earlier demand that they renew their lease for 18 months to avail of the rent concessions.However, dozens of tenants have decided against signing the letter\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":54325,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wharf-says-retail-sales-at-hong-kongs-harbour-centre-times-square-improved-in-first-quarter\/","url_meta":{"origin":117908,"position":1},"title":"Wharf says retail sales at Hong Kong\u2019s Harbour Centre, Times Square improved in first quarter","date":"May 10, 2017","format":false,"excerpt":"\r Wharf (Holding), the Hong Kong conglomerate whose interests include property, telecommunications and infrastructure, saw retail sales at its two major shopping malls in the city register slight growth in the first quarter. Stephen Ng Tin-hoi, Wharf chairman and managing director, said sales at Harbour City in Tsim Tsui and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111500,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-mall-owners-push-back-at-tenants-pleas-to-cut-rents-even-as-retail-sales-shrink-amid-unrelenting-protests\/","url_meta":{"origin":117908,"position":2},"title":"Hong Kong\u2019s mall owners push back at tenants\u2019 pleas to cut rents even as retail sales shrink amid unrelenting protests","date":"October 11, 2019","format":false,"excerpt":"\r Hong Kong\u2019s leading mall owners are looking at various options to help struggling tenants amid the unrelenting protests, but most of them are reluctant to commit to rent cuts even after the city recorded its worst monthly sales in August.Although Sun Hung Kai Properties, Wharf (Holdings), Hysan Development, Swire\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":125179,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/landmark-owner-hongkong-land-to-waive-rents-for-tenants-subject-to-mandatory-covid-19-closures-by-government\/","url_meta":{"origin":117908,"position":3},"title":"Landmark owner Hongkong Land to waive rents for tenants subject to mandatory Covid-19 closures by government","date":"March 10, 2022","format":false,"excerpt":"\r Hongkong Land, which owns the high-end shopping centre Landmark in Hong Kong\u2019s Central business district, said on Thursday that it will fully waive rents for tenants subject to mandatory closures imposed by the government to stop the spread of Covid-19 in the city.Tenants from the food and beverage (F&B)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":125223,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kongs-private-commercial-landlords-join-big-guns-in-offering-rent-relief-to-tenants-hit-by-fifth-wave-closures\/","url_meta":{"origin":117908,"position":4},"title":"Hong Kong\u2019s private commercial landlords join big guns in offering rent relief to tenants hit by fifth wave closures","date":"March 15, 2022","format":false,"excerpt":"\r Hong Kong\u2019s private commercial landlords are joining the city\u2019s big guns in offering rent relief to their tenants.Tai Hung Fai Enterprise, a property developer that has more than 1,000 tenancy agreements all over Hong Kong, including offices, serviced flats, warehouses and about 200 shops, said it would help its\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73818,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-tenants-continue-their-march-into-hong-kongs-premium-office-space-driving-up-rents\/","url_meta":{"origin":117908,"position":5},"title":"Chinese tenants continue their march into Hong Kong\u2019s premium office space, driving up rents","date":"December 6, 2017","format":false,"excerpt":"\r Chinese companies continued their march into Hong Kong\u2019s commercial space in the first three quarters, pushing the cost of renting offices in the city to the world\u2019s highest in square footage terms, according to property consultant JLL. Tenants with home bases in mainland China took up 48 per cent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/117908"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=117908"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/117908\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=117908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=117908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=117908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}