We actively seek out individual solutions for our tenants in the exceptional situation caused by Covid-19

The coronavirus has led to an exceptional situation that has an impact on the whole society. As a consequence, many of our tenants face a difficult situation. Especially small and medium-sized enterprises operating in the service sector are affected to different extents.

Due to the strong measures taken to slow down the spread of the epidemic, the footfall numbers in shopping centres have decreased. Our centres are maintaining their opening hours but we have agreed on flexible opening hours for our tenants.

We want to support our tenants during these hard times. It’s in everyone’s interest that our tenants can carry on their business when the coronavirus crisis has been defeated. However, our resources are limited, so decisive measures are needed from other actors as well, such as the government and banks.

We have received a large number of inquiries from our tenants with questions related to changes in rental terms such as rent deferral or discount. We are doing our best to try and solve the requests case by case to find individual solutions for our tenants. We have already finished conversations with several hundreds of our tenants and negotiated flexible arrangements.

We follow the situation closely and evaluate and adjust our operative actions as we go along.

Updated

09.04.2020