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MNACT's Festival Walk mall to stay shuttered until 2020; manager to top-up distributable income

Stanislaus Jude Chan
Stanislaus Jude Chan12/5/2019 12:55 PM GMT+08  • 3 min read
 MNACT's Festival Walk mall to stay shuttered until 2020; manager to top-up distributable income
SINGAPORE (Dec 5): Mapletree North Asia Commercial Trust’s (MNACT) Festival Walk shopping mall is expected to remain shuttered until the first quarter of next year after incurring “extensive damage” in mid-November amid escalating violence in the Ho
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SINGAPORE (Dec 5): Mapletree North Asia Commercial Trust’s (MNACT) Festival Walk shopping mall is expected to remain shuttered until the first quarter of next year after incurring “extensive damage” in mid-November amid escalating violence in the Hong Kong protests, the manager announced after market close on Dec 4.

The Kowloon Tong property, described as an “anchor asset” for MNACT, has been closed since Nov 13.

“There are major recovery and repair works to be carried out on multiple levels and locations within the mall,” the manager said in a statement. “All efforts are being made to re-open the mall as soon as possible and we are working closely with our consultants and contractors to re-open, either partially or fully, in the first quarter of calendar year 2020.”

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