Property News - Inside Retail Asia
Singapore malls waive rents as shutdown commences
Singapore mall operators are waiving rents for tenants as the city state enters a shutdown period to control the spread of the coronavirus.
Central Pattana launches one-click service linking tenants, consumers
Thailand’s Central Pattana has launched ‘One call x One click’ service which allows its customers to shop remotely during social distancing.
New World launches vending machines offering free face masks in Hong Kong
Thirty-five New World vending machines have opened across Hong Kong providing masks to low-income families during the coronavirus crisis.
Retail real estate investors in Hong Kong demand massive discounts
Retail real estate investors in Hong Kong are seeking discounts ranging from 30 to 50 per cent compared to previous peak prices, according to data from real-estate company Savills.
Aeon to open mall in Myanmar by 2023
Japan’s largest retailer Aeon is to open a shopping mall in Yangon, Myanmar’s largest city, in 2023.
K11 Musea launches global fashion showcase K11 Antonia
Hong Kong cultural-retail hub K11 Musea’s fashion destination Muse Edition has launched a multi-brand flagship, K11 Antonia.
Many Hong Kong retail landlords rally to rent reduction call
Landlords in premium Hong Kong retail areas are proving flexible on rents as retailers experience an unprecedented drop in sales of between 50–80 per cent during the first financial quarter this year.
Singapore retailers call for ‘unprecedented rental relief’
“Unprecedented rental relief measures” are needed from landlords to help retailers overcome the coronavirus crisis, according to the Singapore Retailers Association.
Thailand’s Central Pattana to waive the rent for retailers
Thai retail property developer Central Pattana is to waive rent for tenants affected by the government’s shutdown order.
Mass job losses in Indian retail feared as malls closed
Retail Association of India CEO Kumar Rajagopalan has said that if the country’s retail lockdown continues through to June, 30 per cent of retailers will collapse and 1.8 million jobs will be lost.
Sunway Malls offers rent rebate during shutdown
Sunway Malls has offered a 14-day rent concession to its affected non-essential retailers, following the government’s movement control order.
SM, Jollibee roll out emergency packages for employees
As the community quarantine continues all over Luzon, Philippine conglomerate SM Group has committed to maintaining regular pay for all of its employees, without deductions from their vacation or sick leave entitlements.
