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Covid-19 pandemic: Shopping mall owners' income dips around 50 pc in FY21

Shopping mall owners revenue declined by around 50 per cent during the last fiscal as the retail sector was badly hit since the outbreak of the COVID-19 pandemic in March last year, according to real estate developers and consultants.
Average monthly rentals in shopping centres have softened by 4-5 per cent across eight cities, although many malls saw rent correction of up to 25 per cent, they said.
Most of the mall owners, which generally leases space in their shopping malls on a revenue-sharing model with retailers having a minimum guarantee clause, gave complete rental waiver during the April-June period of 2020 because of the nationwide lockdown to control COVID. ....

Harshvardhan Singh , Shubhranshu Pani , Abhishek Bansal , Cushman Wakefield , Pankaj Renjhen , Executive Director Abhishek Bansal , Harsh Bansal , Anarock Retail , Savills India , ஹர்ஷிவர்தான் சிங் , ஷுப்ராஞ்ஷு பானி , அபிஷேக் பன்சால் , குஷ்மேன் வேக்ஃபீல்ட் , கடுமையான பன்சால் ,

COVID-19: Shopping mall owners' income dips around 50 pc in FY21 on rental waiver

COVID-19: Shopping mall owners income dips around 50 pc in FY21 on rental waiver
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Last Updated: May 10, 2021, 09:19 PM IST
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Most of the mall owners, which generally leases space in their shopping malls on a revenue-sharing model with retailers having a minimum guarantee clause, gave complete rental waiver during the April-June period of 2020 because of the nationwide lockdown to control COVID.
Agencies
Average monthly rentals in shopping centres have softened by 4-5 per cent across eight cities, although many malls saw rent correction of up to 25 per cent, they said.
Shopping mall owners revenue declined by around 50 per cent during the last fiscal as the retail sector was badly hit since the outbreak of the COVID-19 pandemic in March last year, according to real estate developers and consultants. Average monthly rentals in shopping centres have softened by 4-5 per cent across eight cities, although many malls saw rent correc ....

Harshvardhan Singh , Shubhranshu Pani , Abhishek Bansal , Cushman Wakefield , Pankaj Renjhen , Executive Director Abhishek Bansal , Harsh Bansal , Anarock Retail , Savills India , ஹர்ஷிவர்தான் சிங் , ஷுப்ராஞ்ஷு பானி , அபிஷேக் பன்சால் , குஷ்மேன் வேக்ஃபீல்ட் , கடுமையான பன்சால் ,

COVID-19 impact: Shopping mall owners' revenue fell nearly 50% in FY21

COVID-19 impact: Shopping mall owners revenue fell nearly 50% in FY21
Average monthly rentals in shopping centres have softened by 4-5 per cent across eight cities, although many malls saw rent correction of up to 25 per cent, according to real estate developers and consultants
PTI | May 10, 2021 | Updated 22:27 IST
The mall promoters offered huge discounts during the remaining nine months of the last fiscal as well, resulting in a huge dent in their overall income
Shopping mall owners revenue declined by around 50 per cent during the last fiscal as the retail sector was badly hit since the outbreak of the COVID-19 pandemic in March last year, according to real estate developers and consultants. Average monthly rentals in shopping centres have softened by 4-5 per cent across eight cities, although many malls saw rent correction of up to 25 per cent, they said. ....

Harshvardhan Singh , Shubhranshu Pani , Abhishek Bansal , Cushman Wakefield , Pankaj Renjhen , Executive Director Abhishek Bansal , Harsh Bansal , Anarock Retail , Savills India , ஹர்ஷிவர்தான் சிங் , ஷுப்ராஞ்ஷு பானி , அபிஷேக் பன்சால் , குஷ்மேன் வேக்ஃபீல்ட் , கடுமையான பன்சால் ,

BJP Gears Up for Party's Organisational Expansion in UP Ahead of JP Nadda's 2-day Visit

»BJP Gears Up for Party s Organisational Expansion in UP Ahead of JP Nadda s 2-day Visit
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BJP Gears Up for Party s Organisational Expansion in UP Ahead of JP Nadda s 2-day Visit
File photo of BJP national president JP Nadda speaking at a meeting.
Sources say that there are more than half a dozen contenders for the post of BJYM state president and it is believed that its command can be handed over to a worker hailing from Brahmin or Thakur community.
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Preparations are in full swing for the expansion of the Uttar Pradesh unit of the Bharatiya Janata Party ahead of the two-day visit of party national president JP Nadda in late December. During the visit, the state presidents of Bharatiya Janata Yuva Morcha and Mahila Morcha are set to be appointed. ....

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