In a press release on Feb 7, Tan Tze Wooi, CEO of CRCT’s manager, said: “The extended Spring Festival break and other measures taken to contain the spread of the coronavirus have affected our business sector. As a long-term business partner of our retailers, we are engaging them closely and will put in place targeted policies to support them through this period.”
SINGAPORE (Feb 21): CapitaLand Retail China Trust (CRCT), along with other real estate investment trusts with Chinese shopping centres such as Sasseur REIT and BHG Retail REIT are facing a challenging first quarter of the year.
China has been slow get-ting back to work after the Lunar New Year period (Jan 25- Feb 9) and many companies continued to encourage people to continue working from home, even after Shanghai and Beijing officially ended their stay-away-from-the-workplace policy at midnight on Feb 9.
