The Hong Kong Housing Society announced on Friday that a rent concession of up to 75 percent will be extended to support more than 400 of its eligible commercial tenants for three months from October 1 to December 31. The society said it hopes this seventh round of rent concession implemented can help alleviate the pressure on businesses. The announcement noted that eligible commercial tenants will be granted 50 percent rent waiver unconditionally. Meanwhile, commercial tenants whose businesses are required to be closed due to closure orders or directions as part of the Government’s anti-epidemic measures may apply for full rent waiver within the aforementioned period. Since October 2019, the society has offered multiple rounds of rent concession for its commercial tenants, and the accumulated rental income forgone will be more than HK$700 million together with this latest round of rent relief.

Source: The Standard October 01, 2022 07:14 UTC