AWC cuts rents as visitor numbers plummet

AWC cuts rents as visitor numbers plummet

SET-listed Asset World Corp Plc (AWC) has cut rental rates at Asiatique, where the number of visitors dropped.

Chief executive and president Wallapa Traisorat said on Friday AWC had previously planned to cut the rate by 20% but decided on 25% for one month instead, starting on Sunday.

The company would review the situation and revise it monthly, she said.

The number of visitors to Asiatique was halved from 30,000 a day on weekdays and 50,000 on weekends to 15,000 and 18,000 persons, respectively. The average monthly rental rate is 1,400 baht per square metre.

Asiatique has more than 1,500 shops with occupancy rate around 80%.

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