Housing Society Offers Further Rent Concession for Commercial Tenants and Group B Rental Estate Tenants
The Executive Committee of the Hong Kong Housing Society (HKHS) approved today (3 March) to extend the 50% rent concession for about 430 eligible commercial tenants and car park operators of HKHS for six months from 1 April to 30 September this year, in line with the Government's relief measures. The total cost is about $87 million that will be borne by HKHS.
On the other hand, in response to the Government's announcement in "2020-21 Budget" to pay one month's rent for HKHS's Group A rental estate tenants, HKHS will offer its Group B rental estate tenants two-thirds rent reduction for one month, which is another round of rent waiver further to the one in January this year. About 1,000 tenants in three HKHS Group B rental estates will be benefited, costing about $4 million that will also be borne by HKHS.
HKHS Chief Executive Officer Wong Kit-loong said, "In view of the sustaining impact brought by the epidemic on Hong Kong's economy, we hope to stand shoulder to shoulder with Hong Kong people during the difficult time by extending rent concession so as to alleviate the financial burden of our commercial and rental estate tenants."