HK Mall Owners Report Massive Losses

Posted by Ed 11 mths ago
Two of Hong Kong’s biggest commercial landlords, Hang Lung and Wharf Reic, posted huge losses in the first half of the year as Covid-19 “destroyed the global economy” and condemned retail sales to 17 straight months of decline.
“It’s not just the tenants struggling with difficulties, landlords are in the same situation. All landlords have their own costs, including repaying loans, tax, salaries etc,” said Ng.
He compared the landlord’s current predicament to someone being called upon to rescue drowning people but having to weigh up the risk of going under themselves during the attempt.

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