Swire Properties Further Strengthens Support to Retail Tenants; Offers Full Rental Waiver to Tenants Closed under Scheduled Premises

Swire Properties announced a series of measures to further strengthen its response during the current fifth wave to support retail tenant partners in Pacific Place and Cityplaza, the Company's wholly-owned shopping malls.

These include a full rental waiver to tenants under scheduled premises who have had to close due to the Government's pandemic measures during the fifth wave. The rental waiver will cover the onset of the Government mandated closure period until 20 April 2022.

Swire Properties is offering to support F&B tenants who have been dealt a hard blow, with reduced traffic through their premises. The Company will also offer tailored support on a case-by-case basis, to the extent of charging only turnover rent in some cases, and will continue to work closely with our tenants to offer assistance.

In addition, various promotional campaigns, ranging from shopping and dining rewards and discount vouchers to the extension of free parking offers and takeaway promotions, will continue.

"We are giving our full support to the HKSAR Government's anti-pandemic measures to help ride out the fifth wave of COVID-19. In addition to offering some of our premises as quarantine and community isolation facilities, as well as vaccination and testing centres, we are continuing our collaborative approach with our tenant partners during these challenging times," said Tim Blackburn, Chief Executive of Swire Properties.

Swire Properties was one of the first landlords to offer rental concessions to our tenant partners in 2019, since when we have provided tailored support to help tenants keep their businesses afloat.