21 Facts About Link REIT

IPO of The Link REIT, delayed for a year until 2005 through legal action by housing tenants worried that rents would rise, was eventually 18 times oversubscribed.

Link REIT represented a concern among many residents of public housing that existing amenities would no longer be public and that The Link would raise rents, thereby forcing price rises in shops without due consideration of the public good.

The Link REIT overhauled many of the wet markets under its management.

In moves to diversify its property portfolio and mix, Link REIT acquired the shopping mall portion of Nan Fung Centre with parking facilities in Hang Hau, from Nan Fung Group mid 2010 for a total of $1.

In late 2010, Link REIT acquired the shopping mall portion of Maritime Bay Shopping Mall with parking facilities in Hang Hau, from Sino Group, for a total of $588.

Related searches

In mid 2014, Link REIT acquired The Lions Rise Mall with parking facilities in Wong Tai Sin, from Kerry Properties, for a total of $1.

In 2015, The Link REIT took its first step in purchasing by government land auction when it partnered with Nan Fung Group to buy land lot NKIL 6512 in Kwun Tong for a total of $5.

Link REIT has a target where mainland properties would not exceed 12.

On 19 February 2016, a subsidiary of the Link REIT purchased the Trade and Industry Department Tower in Mong Kok from the government for a sum of HK$5.

In mid-2014 Link REIT sold four commercial properties, to four different buyers, for a total of $1.

Link REIT was called a "bloodsucker" by housing estate residents after the company acquired the Housing Authority shopping centres, renovated them, and raised rents.

In 2006, The Link REIT cut thousands of staff, a move "fiercely criticised by unionists, who said Link REIT Management had dishonoured a pledge to protect the welfare of its frontline workers when it took over the operation from the Housing Authority".

The Link REIT replied that "the job cuts were in line with private practice".

Anti-Link REIT protests have become increasingly common in recent years.

Link REIT allegedly interfered with a worker performing his duties at Leung King Estate.

The Link REIT distanced itself from the clashes and denied the hawker control team was part of its staff.

Link REIT is well known as a "bloodsucking landlord" as bipartisan parties has put it over the years for its unyielding fist on its tenants.

Link REIT has been widely condemned by officials on both sides of the political spectrum.

Link REIT said that, as the previous owner of the public housing commercial space, the Hong Kong government has a responsibility to public housing tenants "to satisfy their needs and if necessary to provide alternatives to Link REIT properties".

Link REIT said that a Link REIT monopoly in public estates was not acceptable as elderly tenants could not be expected to carry their heavy shopping to and from other markets.

Link REIT said there was no plan to buy back the Link, but the government could explore providing alternatives if the Link was not serving nearby residents.