SINGAPORE (Mar 10): The manager of BHG Retail REIT announced Tuesday it has reopened its two retail malls in China’s Hefei city – Hefei Mengchenglu Mall and Hefei Changjiangxilu Mall – after obtaining approval from the relevant local authorities.
The manager on Feb 7 had announced the temporary closure of certain stores in the two malls amid the novel coronavirus (Covid-19) outbreak.
The other four retail properties in BHG Retail REIT’s portfolio – Beijing Wanliu, Chengdu Konggang, Xining Huayuan, and Dalian Jinsanjiao – will remain open, albeit on shortened operating hours.
The REIT manager says it will work with the property managers to remain proactive and vigilant in the prevention and control of the spread of Covid-19.
“Preventive measures to be kept in place include temperature screening at entrances, efforts to clean and disinfect facilities and public areas, limiting activities with mass gatherings and putting in place contact tracing procedures,” it adds.
Further, the manager says it will be offering relief arrangements such as rental rebates to qualifying tenants.
It adds that the full financial impact of the coronavirus outbreak cannot be ascertained at this juncture.
Units in BHG Retail REIT closed 2 cents lower, or down 3.3%, at 58.5 cents on Tuesday.
The counter is trading some 14.6% lower than its closing price of 68.5 cents on Jan 20, before the coronavirus fallout.
