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New World: expected to sell more than 15 billion yuan in the next 3 years and continue to reduce the rents of tenants in March

2020-02-28T10:15:14.674Z


New World (0017) Zheng Zhigang said during a conference call that the new crown pneumonia epidemic had a greater impact than during the SARS period, and that there was a large chain reaction in all walks of life, especially in the retail, tourism and catering industries.


Financial news

Written by: Lin Leqian

2020-02-28 18:02

Last updated: 2020-02-28 18:03

New World (0017) Zheng Zhigang said during a conference call that the new crown pneumonia epidemic had a greater impact than during the SARS period, and that there was a large chain reaction in all walks of life, especially in the retail, tourism, and catering industries. However, depending on the rapid economic recovery after SARS, It believes that Hong Kong will be able to come after the throes, and the Group will reserve sufficient ammunition to cope with the market conditions, and said there is no plan for layoffs.

The construction site of the group had stopped work for two weeks to prevent epidemic prevention. He pointed out that the current construction site has been fully resumed, and it has no impact on the sales and deployment of the residential project at Dawei Station. The project has applied for a pre-sale consent, and is scheduled to start sales in the second quarter of this year. There are about 3,090 open-plan to 4-bedroom households. He is cautiously optimistic about the outlook of the property market, and expects annual contract sales of 15 to 20 billion yuan in the next 2 to 3 years. Even if the epidemic affects the desire to buy properties, there is still rigid demand in the property market.

Individual tenants continue to reduce rents in March

New World ’s shopping malls earlier reduced the rents of individual tenants in February. Zheng said that the measures will continue until March. The reduction depends on individual tenants. The group has introduced relief measures since July last year and also reduced tenants. The rents in October and November last year, and the distribution of more than ten million yuan in consumer spending, have made it through the hard times with the tenants. It is believed that after the epidemic situation improves, the consumer market will soon recover.

The Group earlier donated 3 million square feet of farmland to social enterprises "require light" to develop social housing "light village" at Tin Shui Wai Station. He pointed out that the preliminary work has been completed so far. In the first half of this year, an application will be made to the City Planning Board for the first 100 units, which is expected to be completed in 2022-2023. In addition, preliminary agreements have been reached with six non-profit making groups to build about 600,000 square feet of social housing in various parts of the New Territories.

The group recently sold a number of non-core assets. He said that it does not mean to be bearish on the market outlook, but to increase cash flow to cope with the current adversity and re-enter the market when appropriate. At the same time, optimize the asset portfolio and reserve cash to develop core assets. Need.

New World's basic profit in the first half of 3.9 billion yuan

MTR spends 3 billion to acquire New World Plaza Telford Plaza Phase 2 and all rights to PopCorn2

New world

Source: hk1

All news articles on 2020-02-28

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