Hong Kong Landlords Start to Slash Retail Rents as Virus Bites
Shoppers wearing protective masks walk through a shopping mall in Hong Kong.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
Hong Kong’s biggest landlords have begun to slash rents for their commercial tenants as retailers struggle amid the spreading coronavirus.
Sun Hung Kai Properties Ltd., the city’s largest developer by market value, will reduce rents for February by 30% to as much as 50% for some of its mall tenants to help them ride out the impact from the disease, the company said in a statement Wednesday.