Its portfolio’s footfall has rebounded from the previous month’s low.
CapitaLand Retail China Trust (CRCT) has reopened CapitaMall Minzhongleyuan as well as three other malls in Wuhan on 2 April following the lifting of restrictive measures in the city, according to a press release.
In March, CRCT’s portfolio saw improving business activities compared with the peak of China’s lockdown measures in February. Tenants’ opening rate reached 80% to 90% in some malls, and footfall has also rebounded positively from the preceding month’s low.
“Our focus now is to collaborate closely with our retailers to meet the pent-up demand of our shoppers and CapitaStar members with targeted offerings and attractive promotions.” CRCT’s CEO Tan Tze Wooi said.
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