31 Mar 2022

Media:

HK01

South China Morning Post

Swire Properties to provide support and stay in close communication with Chinese Mainland tenants amidst new COVID-19 outbreak

Swire Properties said it would provide appropriate support to retail tenants at HKRI Taikoo Hui in Puxi and Taikoo Li Qiantan in Pudong on a case-by-case basis, as Shanghai has entered lockdown and mass testing due to the recent COVID-19 outbreak. The Shanghai municipal government has offered RMB140 billion in tax incentives and various fees, telling state-owned firms to offer free rent for three months while encouraging private companies to extend relief to tenants. Other Hong Kong developers with businesses in Shanghai also said they would offer assistance as appropriate.

As one of the first landlords to offer support to tenants affected by the Government's social distancing measures, Swire Properties said it would continue to stay in close communications with its retail tenants until the rental waiver period concludes on 20 April 2022.