The company expects both mainland China and Hong Kong will continue to face the challenges posed by slow economic growth and weak retail consumption sentiment in the second half of the year. And the decision of Britain leaving the European Union (“Brexit”) has also increased the uncertainty of global economic outlook, it said.
In response to these tough market conditions, "we will continue to raise our facilities and service standards to enhance the shopping experience at our malls and at the same time closely manage our operating costs", company chairman Ronnie Chan said during the result announcement meeting, "In addition to introducing new retail ideas to our malls, we will launch more promotion programs to help our tenants drive sales."
"We will continue to closely monitor the residential property market in Hong Kong, and will sell some of the residential units on hand and may further build our land bank when opportunities arise" Chan added.
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