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News - Detailed News Story

HK will survive protests: ARA chief

03 Aug 2019 09:00

Mr Lim says in times of geopolitical tension, countries need to keep investing in education and infrastructure . BT FILE PHOTO

By Yunita Ong

"THE overall picture doesn't look good for Hong Kong" with ongoing protests that began in early June over the extradition bill broadening to other political and social grievances, ARA Asset Management group chief executive John Lim said Thursday.

"The Hong Kong economy will slow down and for sure the tourists will stay away," he said at a luncheon by Asia Pacific Real Estate Association (APREA). Mr Lim is also chairman of the industry association.

"I believe Hong Kong will survive given the traditional strong focus on capitalism and pragmatism and soon protestors will run out of resources and energy to continue their tough stance."

ARA, a Li Ka-Shing backed fund manager, manages various retail, office and industrial properties across the city, through its Hong-Kong listed Fortune Reit and Prosperity Reit.

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Source: Business Times

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