Lahore: In the wake of the nationwide lockdown implemented due to the coronavirus outbreak, almost all prominent malls in the country (including Packages Mall, Mall of Lahore, Centaurus, Doleman Mall, and LuckyOne Mall) have decided to waive the rents owed by their retailers for April, according to news sources.
In
addition, some of these malls have even offered discounts on rents for the
months of March and May in a bid to facilitate their retail shopkeepers.
This development was spurred by the letter issued by the country’s two main retail associations — the Chain Store Association of Pakistan (CAP) and the Pakistan Retail Business Council (PRBC) — urging the high-end shopping malls to provide relief to their retailers amid the coronavirus lockdown.
As
per the source, the individual landlords have been resisting this call for
relief. However, after the three-month relief on rent, they might be inclined
to follow suit.
Furthermore,
the waiver from rents doesn’t include the common area maintenance (CAM) charges,
which are charged at PKR 100 per square foot.
The
management of LuckyOne Mall has announced its decision to waive off full license
fees for April, 50% for May and 25% for June. The mall has also waived off the
chilled water charges.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
