Govt rental concessions extended

As COVID-19 continues to affect economic activities, the Government today announced that it will further extend the rental or fee concessions applicable to government properties and short-term tenancies and waivers to ease the operating pressure of businesses.

Since April 1, 2020, the Government has granted 75% rental or fee concessions on multiple occasions to government properties' eligible tenants as well as eligible short-term tenancies and waivers under the Lands Department.

The measures' recent extension that started on April 1, 2022, will expire on October 1, 2022. The Government will further extend the concessions for three months until December 31, 2022.

The measure will benefit about 24,000 tenants.

During the period, tenants who have to close their properties at the Government's request will continue to receive full rental waiver during the closure.

The estimated government revenue forgone will be about $700 million.