CMT to give additional rental relief to SME tenants; CapitaLand accelerates digitalisation push in China

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CAPITALAND Mall Trust (CMT) expects to provide additional rental relief of up to one month of rental or other forms of rental assistance for June to small and medium enterprise (SME) tenants that do not qualify for help under a new rental relief law. Read more at The Business Times.

Separately, property developer CapitaLand said on Monday that it will boost its recovery in China with a digitalisation strategy to cope with the"new normal" post-pandemic.

Online sales on CapitaStar helped CapitaLand mall tenants expand their geographical reach, with 45 per cent of CapitaStar’s gross merchandise value attributed to shoppers outside the stores’ cities, the developer said.The CapitaStar platform currently lists over 60,000 stock keeping units, some of which can be picked up in physical stores in addition to home delivery, which can drive footfall to CapitaLand malls.

Earlier in March, CapitaLand launched a “Homes” feature on CapitaStar’s WeChat account catering to house hunters in China. Over 2,700 viewing appointments were booked through the feature by end May, it said. The “Next-Ten” stores use data insights and social media marketing to support participating retailers in making sales 24/7 online and offline without space constraints.

eCapitaMall is a digital mall that lets shoppers browse online before purchasing in-store, or browse in-store before purchasing online, while Capita3Eats is a food-ordering platform that lets consumers order delivery, takeaway or dine-in at eateries in CapitaLand malls.

 

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More clarity on rent relief for tenants soonMore details on rent relief for tenants and the criteria that financially strapped landlords must meet to be exempt from giving the full rental waiver will be announced in the next few weeks, Senior Minister of State for Law Edwin Tong said.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »