Link Asset Management Limited (Link), the manager of Link Real Estate Investment Trust (Hong Kong stock code: 823), announced today (Wednesday) the provision of a 50% discount on the monthly car park fee for school bus patrons of Link’s car parks for six months from April to September 2020. The discount is a relief measure targeted to mitigate the impact of class suspensions on the education industry amid the novel coronavirus epidemic.
At the same time, Link stands ready to support its learning centre tenants when classes resume. On top of stepping up cleaning at its properties, Link is currently sourcing child-sized face masks and will distribute them to learning centre tenants in due course. Link hopes it can contribute to its learning centre tenants’ smooth resumption of operation.
In addition, Link’s shopping malls are forming a collaborative network with tenants to give shoppers a variety of incentives and offerings, with an aim to encourage consumer spending and stimulate tenants’ overall sales and business. (see appendix for details).
“Under the collaborative network, our shopping malls and tenants are working together in unity. As a landlord, we hope our new initiatives will drive the overall business of all tenants. We are also connecting different tenants in our network and stimulating footfall, which will hopefully give a lift to those tenants who are currently operating in particularly difficult situations and benefit everyone in the collaboration,” Link’s Chief Executive Officer George Hongchoy said.
Highlights of the collaborative network are as follows:
Meanwhile, since Link believes that providing patrons with a safe and clean environment is of utmost importance, the company has stepped up sanitising procedures and enforced more stringent measures preventing transmission of virus in its shopping centres and fresh markets.
These new measures and initiatives come on the heels of Link’s previously announced $80 million Support Scheme for Small and Medium-sized Tenants, which provides targeted relief measures including rental concessions to individual tenants according to their circumstances, with priority given to the most affected industries.
To boost tenants’ business, Link is forming a collaborative network with tenants and introducing a series of measures. The measures will be constantly updated as more tenants join the network.
1. Food and beverage is one of the industries most affected by the coronavirus epidemic. To help its food and beverage tenants overcome the current challenges, Link will roll out the following series of targeted promotional measures:
2. It is crucial to stay healthy in the fight against coronavirus. Link is grateful to have support from tenants who offer free or discounted health supplements and healthcare services for Link to redistribute to citizens. Details are as follows:
3. As more families are cooking at home more frequently now, coming up with new recipes every day can be difficult. Link therefore provides a wide variety of easy, healthy recipes in print form at selected fresh markets or in electronic form on Link’s social media platforms.
4. Since Link believes that providing customers with a safe and clean environment is of utmost importance, the company has stepped up sanitising procedures and enforced more stringent measures preventing transmission of virus in its shopping centres and fresh markets. Link has enhanced cleaning and disinfection measures in its shopping malls as follows:
Link has also enhanced cleaning and disinfection measures in its fresh markets. Highlights are as follows:
With the above measures in place, Link hopes to boost the confidence of consumers and tenants, stimulate spending, and encourage the healthy growth of society and the economy in the long term.
*For selected shopping malls and fresh markets, please visit Linkhk.com.
Link Real Estate Investment Trust (Hong Kong stock code: 823), managed by Link Asset Management Limited, is a leading retail-focused REIT in the world. Listed in 2005 as the first REIT in Hong Kong, Link has been 100% held by public and institutional investors and is a Hang Seng Index constituent stock. From its home in Hong Kong, Link manages a diversified portfolio including retail facilities, car parks and offices spanning Hong Kong, Beijing, Guangzhou, Shanghai, Shenzhen, London and Sydney. Link seeks to extend its portfolio growth trajectory and grasp expansion opportunities in different markets in pursuit of our medium-term target Vision 2025. For details, please visit https://www.linkreit.com/.