The Kowloon Tong property, Hong Kong’s then-largest shopping mall when it was first opened in 1998, has been closed since Nov 13 following the spilling over of clashes between Hong Kong protestors and police.
SINGAPORE (Dec 6): DBS Group Research is cutting its target price for Mapletree North Asia Commercial Trust (MNACT) by 18.8% to $1.30 on the back of lower rental reversion assumptions for key asset Festival Walk.
This comes after the REIT manager on Dec 4 announced that the mall, which accounted for 61.7% of MNACT’s net property income (NPI) in the latest 1HFY2020 ended September, is expected to remain shuttered until 1QCY2020.
