Sasseur REIT reopens Chongqing and Bishan outlet malls

Its China malls were temporarily shuttered seven weeks ago due to the outbreak.

Sasseur REIT is reopening its Chongqing and Bishan outlet malls on 15 March after seven weeks of temporary closure, an announcement revealed.

With their reopening, the REIT has now recommenced full operations of its mall outlets in China. Sasseur REIT’s Kunming and Heifei outlet malls were reopened earlier on 11 March and 13 March, respectively.

During the almost two months of disrupted operations, Sasseur REIT continued to receive the fixed component of its income from Sasseur Cayman Holding in accordance to the Entrusted Management Agreement (EMA) and variable component. This will provide stable returns for investors, according to the REIT.

“Therefore, [Sasseur Asset Management] is of the view that the financial impact to Sasseur REIT should not be material for the full year due to the relatively short closure period of approximately seven weeks,” the press statement concluded.