ICRA: in FY22 , Retail malls expected to see recovery as high as 75% of pre-Covid rentals

Retail malls are expected to witness recovery up to 75% of pre-Covid rentals in the current financial year ending March supported by pent-up demand and resumption of multiplexes’ operations, said rating agency ICRA.

Malls have witnessed a faster recovery after the second wave of the Covid-19 pandemic, compared to the first wave during April-September 2021, driven by faster relaxation in the restrictions and improved vaccination coverage.

The recovery of retail trading values was at 64% of pre-Covid levels for ICRA’s sample in Q2 FY2022 as against the recovery of 30% witnessed post the first wave in Q2 FY2021 which had resulted in the closure of retail malls for between three to five months.

ET (The news article has not been edited by DFU Publications staff)

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