MTR station business revenue slumps by 49pc to HK$1.8b

Hong Kong station commercial business revenue dived by 49.1 percent from the years before to HK$1.80 billion, in the first half, the MTR Corp reported today.

This was mainly due to rental concession given to Duty Free Shops resulting from boundary closure and also concession to shops as a result of the virus outbreak, the MTRC said.

Rental revenue from station shops plunged by 52.8 percent on-year to HK$1.18 billion.

This was mainly as a result of rental concessions to shops due to the closure of border stations and rental concessions to tenants during the virus outbreak., the MRC said.

Retail shops in stations added up to 1,523.

The increase in the number of station shops compared with the end of 2019 was mainly due to the opening of the Tuen Ma Line Phase 1.

Rental reversion and the average occupancy rate in the first half in station kiosks were -5.4 percent and 98.5 percent respectively.