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Nikkei Markets

Singapore developers say malls recovering as virus fears abate

Hotels to face greater challenge with slump in travel

CapitaLand said 12 of its malls in China remain shut due to the coronavirus, though activity at the other 39 is picking up.   © Reuters

SINGAPORE (Nikkei Markets) -- Singapore's malls are starting to see more visitors as fears regarding the COVID-19 coronavirus recede among locals but hotels will continue to be hurt by low occupancy given the plunge in travel across Asia, the city-state's two biggest developers said.

CapitaLand, Southeast Asia's largest property company by assets, also said 12 of its malls in China remain shut but activity at the other 39 is picking up as Beijing gradually allows offices and factories to reopen.

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