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CapitaLand, which operates Singapore's largest mall network with 18 under its management, is in the process of reviewing 3,500 leases and aims to inform all tenants of their respective rental relief packages by end-March.
The retail giant said it has granted rental rebates of 20 per cent to 30 per cent over two months as an interim relief to eligible tenants in its downtown malls, which have been more affected by the coronavirus outbreak.
Rental relief by CapitaLand will be disbursed to tenants in a targeted manner as the outbreak impacted different malls and trade categories in varying degrees, said CapitaLand president for Singapore and international, Mr Jason Leow.
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- Singapore investors remain bullish on overseas property purchases: CBRE
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Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.
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