Amid the worsening novel coronavirus outbreak, BHG Retail REIT has closed all non-F&B stores at two of its malls.
These properties are namely Hefei Mengchenglu Mall and Hefei Changjiangxilu Mall.
The stores are shut in line with Chinese state government regulations.
These regulations mandate the closure of commercial venues not related to the provision of basic necessities.
However, these regulations allow F&B outlets providing delivery services, and the supermarkets to operate.
As such, these tenant types at Hefei Mengchenglu Mall and Hefei Changjiangxilu Mall continue operating.
But their operations must comply with regulations for epidemic prevention and control.
These include providing face masks to employees, and setting up temperature scans at entrances.
BHG Retail REIT’s manager aims to reopen affected stores “as soon as it is appropriate to do so in the circumstances”.
However, there is no projected reopening dates as yet.
“With the continuing development of the 2019-nCoV situation, it is too early to ascertain the full financial impact of the 2019-nCOV on BHG Retail REIT”, said its manager.
“Notwithstanding this near-term headwind, BHG Retail REIT’s long-term strategy is well-positioned to benefit from China’s rising residents’ income and consumption upgrade”, it added.
BHG Retail REIT was last done on the SGX at SGD0.68.