Festival Walk mall to remain closed for up to three months
Festival Walk mall in Hong Kong – seriously damaged during protest activities on November 13 – will remain closed for up to another three months.
Earlier, it had been anticipated the centre would reopen this month, but repairs are taking longer than anticipated.
The Singapore-based parent of the centre, Mapletree, issued a statement saying the reopening will happen either “partially or fully” in the first quarter.
“All efforts are being made to re-open the mall as soon as possible,” said the manager of Mapletree.
The manager said the recovery process will involve multiple levels of the mall, including entrances, walls, escalators, lifts and glass balustrades along the common area, and refurbishments will also continue after the mall re-opens.
Offices reopened in the complex on November 26, but the owner has been unable to collect retail rents since November 13.
“While the loss of retail and office revenue as well as property damage are covered under the insurance policies, the assessment of the quantum of revenue loss and property damage recoverable by insurance claims is currently underway and the timing of receiving the claims has yet to be determined,” the manager said.
While retailers will not be paying rent, the closure comes at the peak Christmas sales season. Among the anchor tenants whose stores are closed are Apple and Marks & Spencer.
Besides glass balconies being smashed, substantial damage was caused when the giant Christmas tree in the mall’s atrium was set on fire.