Link Reit shopping centre sell-off prompts widespread concern from Hong Kong public
Three quarters of respondents to survey said they were very dissatisfied that the government had nothing to say about the Link’s repeated sell-offs
Nine out of 10 Hongkongers surveyed by a concern group that monitors public markets are unhappy about the Link Reit’s planned HK$23 billion sell-off of local shopping centres.
The move immediately sparked concern from residents in nearby public housing estates that it would further drive up rents, force out family-owned stores, and leave them with only expensive chain stores to choose from.
More than 89 per cent of the 1,074 people the Alliance on the Development of Public Markets polled online and on the street following the Link’s announcement were unhappy about the trust selling off “livelihood facilities” again.
The Link has already sold 28 of its shopping malls in public housing estates for HK$11.96 billion over the past three years.
Tenants of small shops fear ‘inevitable’ rent rises that will force them out after Link Reit’s HK$23 billion mall sale
Around 80 per cent of respondents were worried about the cost of daily necessities going up and a decline in the number of small independent shops. Three-quarters of respondents said they were very dissatisfied that the government had nothing to say about the Link’s repeated sell-offs.