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

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

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,”…

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By | 2021-08-05T23:30:07+00:00 August 5th, 2021|Business|Comments Off on Hong Kong shopping centre landlord Wharf Reic reports 10 per cent increase in first-half revenue, rues absence of tourists