CapitaLand Retail China Trust (CRCT) faced difficult operating conditions in February 2020 amid COVID-19-related shutdowns across China.

But recent figures suggest that shoppers are slowly returning, although occupancy is falling across the REIT’s malls.

The retail-focused REIT has reported a 42.5% fall in tenant sales for its 1Q 2020 when compared to the corresponding period in 2019.

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By Shariffa Al-Habshee

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