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Landlords of Hong Kong’s ‘Ginza-style’ commercial buildings slash rents and target non-restaurant tenants amid coronavirus downturn

Landlords of Hong Kong’s “Ginza-style” commercial buildings are slashing rents by up to 40 per cent and shifting their focus away from restaurants and bars to survive the dramatic downturn in the catering and retail sectors caused by the coronavirus pandemic.As rents of street-level shops and restaurants have tumbled, these projects – buildings typically packed with cafes, bars and small shops on higher floors – are struggling to retain tenants.With no sign of a rebound in the food and beverage…

Read the original article at South China Morning Post

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