14:57 06.01.2021

Ukrainian malls to lose about UAH 1.5-2 bln of lease payments due to lockdown in Jan – opinion

2 min read
Ukrainian malls to lose about UAH 1.5-2 bln of lease payments due to lockdown in Jan – opinion

Ukrainian shopping and entertainment centers for two weeks of January lockdown will not receive UAH 1.5-2 billion of lease payments, while the loss of their tenants' turnover will amount to UAH 10-12 billion.

These data were announced by Head of the Ukrainian Council of Shopping Centers, Chief Operation Officer of Budhouse Group Maksym Havriushyn.

"January for most of the tenants of the shopping centers has always been far from the most profitable month. According to our calculations, tenants of the shopping centers as a whole will lose UAH 10-12 billion in turnover in the two weeks of January quarantine. Shopping centers will lose about UAH 1.5-2 billion of rental income," he told Interfax-Ukraine.

According to Havriushyn, if the lockdown had been introduced at the end of December, the losses would have been doubled.

During the January lockdown, as well as during the spring one in 2020, the shopping and entertainment centers in Ukraine will not charge lease payments for their tenants, whose work is prohibited by a government resolution, the head of council said.

"The market has already gained experience of working in such conditions. The approach will remain the same as during the spring quarantine of 2020. Only maintenance fees will remain. For tenants who will continue to work, conditions will be determined on an individual basis," Havriushyn said.

 

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