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THE LATEST PLACEMAKING NEWS

The corona virus pandemic and the related measures represent an entirely new and unexpected situation for the entire real estate market, with a global scope and a major local impact on everyone. According to Cushman & Wakefield Czech Republic, retail is one of the most affected sectors, yet it should also play a pivotal role in re-starting the economy.

Due to the Covid-19 pandemic AFI Europe, the largest shopping center project to be delivered this year in Romania will not be opened as planned.

“After the first soft measures in early March, a curfew restriction was imposed in Hungary from March 28 until April 11. Together with the compulsory closing of all non-food shops at 3:00 PM this has had a huge impact on the retail sector.”

Propel by MIPIM 2020, (previously PropTech Europe), the leading European business event for the real estate and innovation ecosystems, has been rescheduled to September 14-15 due to concerns related to the coronavirus.

The decision of the authorities to temporarily suspend the purchase of goods considered non-essential from the shopping centers affects more than 9,000 stores and each day when they are closed equals with between 15 and 20 million euros lost from unearned income, according to an analysis made by the real estate consulting company Cushman & Wakefield Echinox.

In these times of crisis, we at ACROSS listen very closely to what the industry is doing, feeling, and thinking. We gathered some substantial opinions from industry experts and compiled them in the ACROSS special issue “Covid-19”. This issue is available for download here and also via our new e-paper app.

After being criticized for its decision to defer rental payments, Adidas apologized for saying it would halt rent payments for retail locations globally that had to shutter due to COVID-19 lockdowns and that it would pay for April.

Under the umbrella of Croatian Employers Association (CEA), the Coordination of non-food retail and shopping centers has been organized upon the initiative of the Developers Association and Retail Association both under CEA in Zagreb on March 26, 2020.

Considering the economic impact the Coronavirus has brought along in its midst, Geoblink, the Location Management platform powering the new retail, has decided to help the sector by launching an open portal today for professionals of the retail ecosystem to consult and monitor the impact COVID-19 is having on different territories and industries through the use of population movement and consumption data across the United Kingdom.

Northern Horizon Capital AS, the management company of Baltic Horizon Fund, will be implementing a number of relief initiatives focused on alleviating the financial hardship of the most vulnerable group of SME tenants, primarily in the retail sector, whose operations were most severely affected by the outbreak and the restrictive measures implemented by the Baltic governments to limit the spread of contagion.