Sasseur REIT property, Hefei Outlets. (Photo: Sasseur REIT)Sasseur REIT property, Hefei Outlets. (Photo: Sasseur REIT)

Sasseur REIT has assured investors that the business model upon which it is founded will minimise any adverse financial effects that may arise from the closure of its properties.

These assurances came during a special conference call with the REIT’s manager on 28 January.

Sasseur REIT announced earlier in the day that it has shut all four properties in its portfolio.

The closure has been done response to the spread of the Wuhan-origin novel coronavirus across China.

The REIT’s Chongqing and Bishan Outlet Malls were closed from 26 January 2020.

Meanwhile, its Hefei and Kunming Outlet Malls shut from 27 January 2020.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.