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UOL to pass property tax rebate savings on to tenants at its three malls
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Vivienne Tay
Published Fri, Feb 21, 2020 · 09:50 PM
Singapore
PROPERTY developer UOL Group said on Friday that it is passing "all the savings from the property tax rebate" announced in Budget 2020 on to retail tenants at its three shopping malls - United Square, Velocity@Novena Square and Kinex.
This will be done in a "targeted manner", based on their tenants' needs, said Jesline Goh, UOL's chief investment and asset officer. UOL did not specify whether this means it will reduce rents for tenants.
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