Mall owner says lockdowns averaged 58 days across the European countries it operates in
The largest mall owner in Central and Eastern Europe, JSE-listed Nepi Rockcastle, has not been able to perform to its high standards during 2020, with the Covid-19 pandemic throwing its tenants across nine countries into a lockdown a few months ago.
A lack of trade for tenants meant the company could collect 72% of its rent due in the first half of 2020 and the company, which owns assets worth close to R130bn, was unable to deliver a dividend for the period.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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