Prado Shopping Center, Credit: Klépierre

Klépierre has reopened 80% of European malls and expects to hit 90% within 10 days

Klépierre reports that the vast majority of its shopping centers have reopened in Europe.

Since early May, restrictive measures to contain the spread of Covid-19 have been progressively eased in all countries where Klépierre operates leading to a gradual reopening of its malls.

Recently 86% of the Group’s malls are open, representing 80% of the portfolio valuation on a Group share basis. The proportion of reopened malls is expected to rise in the coming weeks with the reopening of:

  • Portuguese malls on June 1, 2020;
  • Malls in the Barcelona and Madrid regions on June 8, 2020; and
  • Malls of more than 40,000 sq.m. in the Paris region.Restrictions remain in place on activities such as restaurants and cinemas in certain countries, including France, Italy, Spain, Portugal, and Germany, representing 5% of the Group’s yearly rent roll.The Group has implemented all the necessary measures to resume operations whilst ensuring the protection of staff and visitors thanks to strict hygiene protocols.Klépierre will continue to monitor business matters and provide updates as the situation warrants.

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