HONG KONG SAR – Media Outreach – March 10 2022 – Hongkong Land today announces a series of initiatives to help tenants and the wider community overcome the challenges posed by the COVID-19 pandemic in Hong Kong. These include rent relief measures for retail tenants and a HK$15 million contribution to the Hongkong Land HOME FUND (“HOME FUND”) to help NGOs provide essential items such as hot meals, food parcels, test kits and anti-pandemic supplies to the underprivileged.
Mr. Robert Wong, Managing Director of Hongkong Land, said: “As a company with deep roots in Hong Kong, we care deeply about the well-being of the city’s residents and businesses as they face the last wave of the pandemic. By working closely with a wide range of NGOs and supporting our tenants with immediate and comprehensive rent relief measures, we hope we can help alleviate the hardship faced by the businesses and communities we serve. in our home in Hong Kong. »
Extended tenant support
Following the commitment of more than HK$420 million in rent relief between early 2020 and December 2021, Hongkong Land has extended its assistance to retail tenants through rent relief and other relief measures. support as Hong Kong continues to battle a fifth wave of the COVID-19 pandemic.
Tenants subject to mandatory government closure will see a full waiver of their rent, management fees and other charges during the closure period. Food and Beverage (F&B) tenants will only pay turnover rents for a period of six months from 1st January to 30and June 2022. Rent relief will be provided on a case-by-case basis to other tenants, with a focus on the most vulnerable small and medium-sized businesses.
For F&B tenants who have been greatly affected by the pandemic, Hongkong Land is also introducing a series of operational and promotional support measures. These include flexible hours of operation to ease the stress of a limited workforce and additional promotions to support their takeout/delivery business. Additionally, a large-scale promotion program to boost guest footfall and F&B sales will be launched later this year as pandemic restrictions ease.
New funds in Hongkong Land HOME FUND to support disadvantaged people
Launched in November 2020, HOME FUND aims to empower younger generations and support those facing housing challenges to help foster a more inclusive society. To help fight the fifth wave of the COVID-19 pandemic, Hongkong Land has injected HK$15 million into HOME FUND to support community response programs.
An initial amount of HK$5 million has already been committed to help NGOs deliver food and pandemic relief supplies to disadvantaged people, and the launch of a special matching gift program for tenants and tenants. employees.
Delivery of hot meals, other groceries and pandemic necessities
HOME FUND partners with 30 NGOs to provide hot meals, groceries and other anti-pandemic products necessities for more than 72,000 underprivileged people in Hong Kong. About 200,000 hot meals and 6,000 food bags will be distributed to the most vulnerable communities in the 18 neighborhoods of the city. In addition, 5,000 pieces of personal protective equipment will be distributed to NGO frontline social workers.
Special matching gift program for employees and tenants
Through HOME FUND, Hongkong Land has launched a special matching donation program for tenants and employees to support Po Leung Kuk and the Foodlink Foundation in their COVID-19 emergency support programs. Hongkong Land donations have been increased by a ratio of 1:1 to 1.5:1 to match those of employees and tenants, i.e. Hongkong Land will match HK$1,500 for a donation of HK$1,000, effective immediately to further amplify our contribution in Hong Kong. anti-pandemic efforts.
Details of the response program for the exceptional commitment of HK$10 million will be announced in due course.
Notes to Editor
Hong Kong Land
Hongkong Land is a major listed real estate investment, management and development group. Founded in 1889, Hongkong Land’s business is built on excellence, integrity and partnership.
The Group owns and manages more than 850,000 m². of offices and luxury shops in the main Asian cities, mainly Hong Kong, Singapore, Beijing and Jakarta. Its properties attract the biggest companies and luxury brands in the world.
The Group’s portfolio in central Hong Kong represents approximately 450,000 m². of prime property. It has an additional 165,000 m². of prestigious office space in Singapore mainly held through joint ventures, four shopping centers on the Chinese mainland, including a luxury shopping center at Wangfujing in Beijing, and a 50% stake in a premier office complex map in central Jakarta. The Group also has a number of high-quality residential, commercial and mixed-use projects under development in cities across China and Southeast Asia, including a 43% stake in a $1.1 million project. m². mixed-use project in West Bund, Shanghai. In Singapore, its subsidiary, MCL Land, is a well-established residential developer.
Hongkong Land Holdings Limited is incorporated in Bermuda and has a primary listing on the London Stock Exchange, with secondary listings in Bermuda and Singapore. The Group’s assets and investments are managed from Hong Kong by Hongkong Land Limited. Hongkong Land is a member of the Jardine Matheson Group.
Hongkong Land HOST FUND
The Hongkong Land HOME FUND (HOME FUND) was launched in November 2020 with an initial investment of HK$100 million, demonstrating Hongkong Land’s long-term commitment to the development of future generations and its aspiration to contribute to the promotion of an inclusive society. HOME FUND’s initial initiatives aim to address underlying long-term socio-economic issues, helping young people unlock their potential and improve living standards and social mobility for low-income households.
The issuer is solely responsible for the content of this announcement.