Hong Kong’s biggest shopping centre Harbour City offers rent concessions and shocks tenants with lease renewal terms

The owner of Hong Kong’s biggest shopping centre is offering its tenants additional rent concessions, with a catch: extend the leases for at least 18 months in a market facing a third wave of coronavirus infections.The tactic has come as a shock to retailers at Harbour City, an upmarket mall located in Tsim Sha Tsui tourist district that is vying with Causeway Bay for dwindling visitors in the city. The mall, ultimately owned by Wharf Reic, has asked its 400-odd tenants to decide by July 24 in…

Read the original article at South China Morning Post