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Lendlease Reit says Covid-19 may cut rents at 313@somerset
Subdued retail sector and leasing demand may depress rents for both new and renewed leases
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Fiona Lam
Published Tue, Nov 3, 2020 · 09:50 PM
Singapore
THE manager of Lendlease Global Commercial Reit (LReit) on Tuesday noted that the subdued retail sector and leasing demand may potentially depress 313@somerset's rents during lease renewals and when entering into new leases.
"Leasing activities are expected to remain soft due to weak demand against Covid-19 headwinds," it said in a business update for LReit's first fiscal quarter ended Sept 30.
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