HONG KONG — Major shopping mall landlords in Hong Kong are offering cuts in February rent by as much as 60% to help tenants ride out the effects of the coronavirus outbreak. Hong Kong's retail sector, battered by months of often violent anti-government protests, is likely to suffer in the coming months as the outbreak in mainland China has emptied shopping centers and closed down tourist attractions. Henderson Land said it will cut February rent by 20% to 60% for its small- to medium-size tenants in retail, food and beverage, as well as education businesses following similar moves by its peers. "Hong Kong's retail and food and beverage businesses have been greatly affected since February due to the outbreak of the novel coronavirus outbreak," Henderson Land said in an emailed statement on Thursday.

Source: International New York Times February 13, 2020 05:15 UTC