Malls waive rental fees for outbreak

Malls waive rental fees for outbreak

Central Pattana Plc, the SET-listed retail developer under Central Group, yesterday announced measures to help tenants at its closed malls.

Preecha Ekkunagul, CPN's president and chief executive, said the company is waiving rent for tenants at shuttered malls and offering discounts on rent of 10-50% for stores that remain open.

Some 3,000 shops at 27 malls will benefit from the waiver.

CPN is also providing pickup and delivery zones at closed malls and preparing a business plan for the return of service once the crisis is over.

"We are confident with complete cooperation from all parties we will overcome this challenge together," Mr Preecha said. "We are ready to support every business to resume normal operations and to help coordinate government aid for all sectors affected during this crisis."

CPN has implemented measures to reduce operating costs and provided guidelines for its team to decrease the impact on the company, he said.

"We will adjust our upcoming project plans and prepare to resume business operations after the situation resolves to ensure the continued growth of the company and a return on investment for our shareholders," Mr Preecha said.

Jittinan Wanglee, managing director of Rangsit Plaza Co, the operator of Future Park Rangsit, said that given the impact from the coronavirus outbreak, the company has waived the rental fee for 1,000 shops at its complex from March 22 to April 12.

Pravit Janyasittikul, chief executive of Phuket Square Co, the operator of Jungceylon mall in Patong beach, said the company cut its rental fee for tenants since the outbreak began and is allowing them to pay late, depending on the type of store.


Do you like the content of this article?
COMMENT

Army worried illegal border crossers are spreading Covid-19

PHITSANULOK: Thais working in Myanmar who wish to return home should do so only through two permanent border checkpoints, in Tak's Mae Sot district and Chiang Rai's Mae Sai, and go immediately into state quarantine to stem the spread of Covid-19, 3rd Army commander Lt Gen Apichet Suesat said on Monday.

18:00

Iran lays to rest nuclear scientist, vows to carry forward work

TEHRAN: Iran laid to rest a nuclear scientist in a funeral befitting a top "martyr" Monday, vowing to redouble his work after an assassination pinned on arch-foe Israel.

17:45

Protest leaders report to police, hear lese majeste charges

Five leaders of the People's Movement reported to Chana Songkhram police on Monday to hear charges of lese majeste brought under Section 112 of the Criminal Code over the demonstration at Sanam Luang on Sept 19-20.

17:25