HONG KONG (Nikkei Markets) -- Sun Hung Kai Properties said on Wednesday the company will lower the basic rents for February paid by tenants in its Hong Kong shopping malls by 30% to 50% to help ease the impact on their businesses from the deadly coronavirus epidemic.
The company, Hong Kong's most valuable property developer that owns about 12 million sq. feet of retail space in the city across a diverse portfolio of shopping malls, said it will lower the rents based on the circumstances of individual tenants, it said in a statement.
