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THE LATEST PLACEMAKING NEWS

Shopping centres were reopened on 4 May. This is an indication that there’s light at the end of the tunnel for landlords and tenants, but the ongoing pandemic will have an enormous impact on the entire retail industry. Sylwia Wiszowata-Łazarz and Joanna Kłusek from global real estate services firm Cushman & Wakefield talked about the current market situation, changing consumer habits and what actions to take to ensure a safe return of shoppers to brick-and-mortar stores during the webinar “Disconnect to Reconnect – About retail in the new reality”.

In light of the Covid-19 crisis, the management teams of several industry players express their solidarity with tenants and shareholders. The management board members of URW, Eurocommercial Properties, and Werelhave waive parts of their salaries or remunerations.

MGVM, has published a study on the impact of COVID-19 on the property management sector. One of the data highlighted in the document is the influx of customers in shopping centres. Compared to the same period in 2019, the number of people visiting shopping centres has been reduced by 93%.

Construction of the first shopping and entertainment gallery in Żory – Galeria Wiślanka is underway. Construction works are carried out in accordance with the investment schedule. Activities related to the building’s raw state have been completed. Currently, installation and finishing works are in progress inside the building. Soon it is planned to hand over the first premises to tenants. The opening of the Gallery is planned for the beginning of the fourth quarter of 2020.

IKEA Retail (Ingka Group) is guided by a vision to create a better life for the many people. Now more than ever, Ingka Group wants to put its values into action to help co-workers and customers adjust to the new realities of life.

However, according to Otto Ambagtsheer, CEO of VIA Outlets, the way in which customers shop will change, at least on a temporary basis. For example, in some of the company’s markets, they will not be able to let guests try on clothes before they buy them, and clothes that are returned will need to be quarantined for three days.

Atrium European Real Estate Limited, a leading owner, operator and redeveloper of shopping centres and retail real estate in Central Europe, provides an update on trading for the three months ended 31 March 2020 and an update on trading in light of the Covid-19 pandemic.

On 23 April 2020, Hammerson announced that Orion European Real Estate Fund V (“Orion”) had notified the company that it did not intend to complete on the sale of a portfolio of seven retail parks (the “Transaction”), despite exchanging unconditional contracts on 20 February 2020.

NEINVER is reopening its five outlet centres in Poland today under strict health and safety measures and with over 80% of their shops open. The FACTORY centres in Warsaw, Krakow, Gliwice and Poznan have implemented reopening plans in close coordination with the brands and authorities to ensure the maximum safety of employees and visitors.