14 April 2022, Mumbai:
AFTER A TWO-YEAR COVID-HIT HIATUS.
Malls Plan Rent Hikes Hearing Cash Counters Ring at Stores.
ALSO READ As retail limitations reappear, retailers are resuming rent negotiations with malls
Landlords across malls and high streets are increasing rentals by 15-25% after a two-year hiatus when retailers either got significant discounts or converted minimum guarantee agreements into revenue-sharing due to falling footfalls amid Covid 19 and various restrictions.
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Several retailers saved nearly 20% of their annual lease during the last two years due to rent concessions, which helped curtail net losses.
However, over the past few months, retail sales have outpaced the pre-Covid levels, triggering a fresh round of negotiations, companies said.
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CREDITS: ET Dt 14-04-2022 (The news article has not been edited by DFU Publications staff).
