THE LATEST RETAIL REAL ESTATE NEWS

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intu: Statement on COVID-19 impact

Intu's three priorities are to look after its employees, to protect its business and to play its role in society.

Josip Kardun joins Meyer Bergman as CIO

Josip Kardun has 20 years of pan-European real estate investment and management experience. He previously served as CEO of Blackstone’s largest European operating platform where he managed over €10 billion of assets across 14 countries.

Mipim will not take place from June 2 to 5, 2020

MIPIM 2020, scheduled to take place June 2-5 in Cannes, is transforming into a two-day, Paris-based gathering of real estate and technology leaders in September and a new online experience, MIPIM Connect, available year-round.

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European retailing: Covid-19 separates e-commerce leaders from rest

Europe’s retailing sector is reeling from the shock of lockdowns across the region to limit the spread of the Covid-19 pandemic, but the impact on the sector’s credit outlook will be uneven, says Scope Ratings.

Citycon Oyj weakens its prospects and withdraws its financial guidance due to uncertain market situation

Citycon Oyj assesses that its prospects for 2020 have weakened and withdraws its guidance for 2020 issued on 6 February 2020. At this point, the company does not specify its direct operating profit, EPRA EPS or adjusted EPRA EPS forecast for this year in more detail due to the uncertain market situation.

Dutch Retail, Hotels and Co-working Offices Expected to Feel Heaviest Impacts from Coronavirus Pandemic – Bouwinvest Research

The Netherlands and most other European countries are forecast to be pushed into recession this year by the impact of the coronavirus pandemic.

Current information from ECE on the corona crisis

The ECE centers - like the entire retail trade and large parts of the economy - are massively affected by the effects of the corona crisis.

NEPI Rockcastle gives update on the impact of Covid-19

Businesses deemed non-essential by the authorities which are located in the Group’s shopping centres in Bulgaria, Czech Republic, Croatia, Lithuania, Poland, Romania, Serbia and Slovakia are now temporarily closed.

Decline in retail footfall three times greater than the worst recorded, according to Springboard

Retail intelligence experts Springboard revealed that we are starting to see the true impact of Coronavirus on consumer activity.

29.7 million euros gross lost revenue per day in Austria

Standort + Markt recently published a first estimate regarding the anticipated daily loss of revenue of shopping places in Austria due to the corona shutdown. Its results provide solid guidelines for the European retail real estate market in general.

COVID-19 Impact Update: Unibail-Rodamco-Westfield provides update on planned dividends for the 2019 fiscal year

URW continues to focus on the strength of its asset portfolio, its capital allocation priorities and the preservation of its strong liquidity position, in addition to the health and safety of its employees and communities.

IKEA donates 50,000 surgical face masks

IKEA Austria just delivered 50,000 urgently needed protective masks to doctors and hospitals. 20,000 surgical face masks went to the SALK hospitals in Salzburg, another 30,000 will be put to good use at registered doctors by the Viennese Medical Chamber.

New Look, H&M, Harrods, Zara shut down stores in the UK

The list of retailers in Great Britain, who are temporarily shutting down their stores due to the corona crisis, continues to grow. For example, H&M and Zara recently announced that they will shut down their stores.

Arricano: update on the impact of covid-19

Arricano informs that in order to implement measures aimed at combating the spread of the COVID-19 pandemic, central and regional government authorities have made respective decisions to suspend the operation of shopping malls in Ukraine until April 3, 2020.

Deutsche EuroShop: Preliminary figures for 2019 financial year as planned

Based on preliminary figures, shopping center investor Deutsche EuroShop closed financial year 2019 with good operating figures that partially met or exceeded forecast. However, the financial implications for the 2020 financial year of the continued spread and unpredictable duration of the corona virus pandemic cannot be quantified at this stage.

Vastned gives update on the impact of COVID-19

Vastned, the listed European retail property company focusing on ‘venues for premium shopping’, published an update on the situation caused by the COVID-19 virus.

LPP supports the fight against coronavirus

LPP will provide isolation hospitals with face masks worth PLN 1 million – the first batch of 3300 pieces has already been delivered to the isolation-only hospital in Gdańsk.

M&S sparks neighbourly action with new fund to mobilise over 1,000 local charities across the uk

The M&S family (including M&S Bank and M&S Energy) announced to its customers the launch of the new Neighbourly Community Fund.

Coronavirus will hit economies across all EBRD regions

The coronavirus pandemic will have a negative impact on economies across the EBRD regions but recovery could be robust once the outbreak is contained, according to the Bank’s economists.