Kiwi Property Group says shopping centres hit hardest by covid-19

Mon, 20 Apr 2020

Kiwi Property Group reported an 8.5 percent decline in the value of its property portfolio, saying its regional shopping centres were hit the hardest.The commercial landlord’s portfolio valuation was lowered by $290 million to $3.1 billion by independent valuers. Of that, its mixed-use portfolio – which includes the Sylvia Park mall – fell 10.6 percent, or $177 million, and its retail portfolio was down 20.8 percent, or $126 million.The value of Kiwi’s office portfolio rose 1.6 percent, or $15 million.

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