PAVILION REIT MALLS OFFER RENT FREE 14-DAYS TO NON-ESSENTIAL BUSINESSES AND RETAILERS UNDER THE MCO FROM 18TH MARCH TO 31ST MARCH 2020
Kuala Lumpur, 24th March 2020
Following the enforcement of the Malaysian Government’s Movement Control Order (MCO) from 18th March to 31st March 2020, the Management of Pavilion REIT Malls (Pavilion Kuala Lumpur, Pavilion Elite, Da Men Mall and Intermark Mall), shares the deep concern of the potential business impact of the MCO on its retailers, in particular those in the non-essential category, as they are not allowed to conduct their usual business.
Pavilion REIT Malls have also not been spared from the effects of the outbreak of the pandemic Covid-19 virus. The malls have undertaken proactive and stringent measures and incurred additional expenses in ensuring the health and safety of its community. In full support of the Malaysian Government in enforcing MCO as a national priority, the malls remain partially open to serve the community by providing essential services and supplies such as supermarkets, pharmacies, convenience stores and F&B outlets (delivery & takeaway).
As responsible corporate citizens, Pavilion REIT Malls are doing their part to lessen the burden of its non-essential businesses and retailers. In support of the latter’s long-term business sustainability, Pavilion REIT Malls announce that all of its businesses and retailers that are not providing essential services and supplies will be given a fourteen (14) days rent free period from 18th March 2020 to 31st March 2020.
Pavilion REIT Malls hope this initiative will provide the much-needed assistance for its affected businesses and retailers. It is confident of overcoming this challenging time together with its retailers, and as true business partners, emerge stronger than before.
About Pavilion REIT
Listed on 7 December 2011, with the largest exposure to the retail sector by any listed Malaysian REIT, Pavilion REIT owns a RM5.9 billion portfolio based on appraised value, to which its most prominent asset is the Pavilion Kuala Lumpur Mall which is located in Bukit Bintang, Kuala Lumpur, Malaysia. Pavilion REIT is established with the principal investment policy of investing, directly and indirectly, in a diversified portfolio of income producing real estate used solely or predominantly for retail purposes (including mixed – use developments with a retail component) in Malaysia and other countries within the Asia-Pacific region. For more details, please visit www.pavilion-reit.com
About Pavilion REIT Management Sdn Bhd
Pavilion REIT Management Sdn Bhd is the manager of Pavilion REIT. Incorporated in Malaysia on 7 April 2011 with an issued and paid up capital of RM5 million, it is 51% owned by Urusharta Cemerlang Development Sdn Bhd and 49% owned by Urusharta Cemerlang Project Corporation Sdn Bhd. The principal activity of the Manager is to manage and administer Pavilion REIT.
For media enquiries, please contact:
Kung Suan Ai, Asset Manager (Marketing)
Pavilion REIT Management Sdn Bhd