CapitaMall Minzhongleyuan (Photo: CapitaLand)

CapitaLand Retail China Trust (CRCT) has shut its property in Wuhan amid the ongoing novel coronavirus (NCoV) outbreak across the country.

The property, CapitaMall Minzhongleyuan, is one of 13 properties in the retail REIT’s portfolio.

It has been shut as a precautionary measure, in accordance with guidelines from local authorities, the REIT said on 29 January.

CRCT has not given any indications as to when it expects the property to re-open, saying only that it will happen “when local conditions permit”.

The mall represented less than 3% of CRCT’s portfolio value as at 30 September 2019, said the REIT.

It also contributed approximately 0.5% of CRCT’s net property income for the first nine months of 2019.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.