Rent Concession for Housing Society Commercial Tenants
In response to the Government's earlier announcement on a package of relief measures to support enterprises, safeguard jobs and relieve people's financial burden, the Executive Committee of the Hong Kong Housing Society (HKHS) approved today (19 September) to reduce the rent of about 400 commercial tenants of HKHS by 50% for six months from October 2019 to March 2020, costing about $76 million that will be borne by HKHS.
HKHS Chief Executive Officer Wong Kit-loong said, "In view of the prevailing situation, we hope to stand shoulder to shoulder with Hong Kong people during the difficult time by offering rent concession, help alleviate the financial burden of our commercial tenants and support them to continue to serve our residents."
The rent concession is exclusive of rates, management fee and air-conditioning charges. Also, it will not apply to some tenants including banks, supermarkets, kindergartens, public bodies, NGOs paying welfare rent, etc. Eligible commercial tenants will be informed in writing by the end of September.