CRCT slashes rents at Beijing mall for two 'lifestyle' concepts
Bookstore concept with a cafe and textile retailer will create buzz so people stay longer: CEO of Reit manager
Singapore
A WEAKER Chinese yuan and a higher property tax led to China retail mall play CapitaLand Retail China Trust (CRCT) reporting dimmer results for its fourth quarter and full year ended Dec 31, 2016.
But what caught the attention of analysts at CRCT's results briefing on Thursday was a 19.7 per cent drop in rents for new leases signed at CapitaMall Xizhimen during the last three months of 2016. The Beijing mall is closely watched as it is CRCT's largest contributor by gross revenue and net property income.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Electrolux Q1 loss nearly triples on weak demand but beats expectations
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters