The retail, hospitality and tourism sectors have been hit by the spread of COVID-19, with numerous malls and stores across the region forced to close temporarily.
Leasing activity slowed across the region as retailers focused on seeking rent abatement and other concessions. Several landlords in Mainland China, Hong Kong SAR, Singapore and India offered rent holidays or discounts.
The Asia Pacific rental outlook for 2020 has been revised downward, with the correction expected to be steeper than that which was recorded at the height of the Global Financial Crisis.
This special edition of Asia Pacific Retail Trends provides a summary of the latest travel restrictions, government stimulus measures, rental concessions and retailer activity in key regional markets.
We remain steadfast in providing timely insights and expertise during this unprecedented time.