shopping centers have reduced the rental rate by 50 for a number of foreign retailers that have sus

Shopping centers have reduced the rental rate by 50% for a number of foreign retailers that have sus…

Sumary of Shopping centers have reduced the rental rate by 50% for a number of foreign retailers that have sus…:

  • Earlier, the media wrote that foreign brands may soon terminate lease agreements with shopping centers – it is unprofitable for them to pay rent for retail space and warehouses, pay salaries, so they may decide to leave.
  • Russian shopping centers have begun to make discounts on rent to foreign retailers due to downtime – the discount to the average rent reaches 50% in some cases, Bulat Shakirov, director of the Union of Shopping Centers (STC), told Izvestia.
  • He added that the discount period does not mean that the company plans to return after this time: they are stopped by significant supply chain disruptions and geopolitical events.

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