The May rent collection remained stable and Citycon has collected and/or accrued as government assistance guarantees approximately 78% of its billed rent for the month of May.
100% of the centres are open and 97% of the stores are open for business. Footfall has continued to improve, and the total footfall for week 25 was tracking at 86% compared to 2019. Average spend per visitor continues above prior year level and was 29% higher in May 2020 compared to May 2019.
“We’re happy to see continued positive trends with improved footfall, higher consumer spending and rent collection”, says F. Scott Ball, CEO.
As a leading Nordic player, Citycon is operating in a very stable business environment. In addition, our business model proves to be strong, even in times of covid-19. Our necessity-based community centres with retail, municipal services and grocery stores/pharmacies are connected to public transportation which provides natural visitor flow, every day.