The government authorities in all countries where IMMOFINANZ owns and operates retail properties have recently imposed restrictions and implemented various measures to contain Covid-19. These measures affect various aspects of everyday life, among others through the temporary shutdown of retail … Continue reading
By Carmen Trepat More than ever we have come to realize that we live in a V.U.C.A. world (Volatile, Uncertain, Complex, and Ambiguous). It is often said that “change is the only constant” and this is certainly true of the … Continue reading
Reed Midem announced at the beginning of this month that Mipim will not take place from March 10 to 13, 2020 due to the coronavirus. The biggest real estate fair in Cannes was rescheduled for June 2 to 5, 2020. … Continue reading
Restrictions imposed to prevent the spread of the COVID-19 virus currently limit the operations of Unibail-Rodamco-Westfield in several of its markets, as announced on March 16, 2020. Since then, further restrictions have been added in France and Germany and the … Continue reading
By Manfred Wiltschnigg In light of the enormous dynamics of the corona pandemic, which has reached virtually all countries around the globe (albeit at varying degrees), it is hard to predict which consequences are to be expected in the medium … Continue reading
Missing customer frequencies and temporary forced closings as a result of the containment measures threaten the existence of many retailers. Lowering the rent or even suspending the rental payment for the duration of the closure can help minimize one of the … Continue reading
Over the last week, shopping centres within Poland, the Czech Republic and Slovakia have faced government imposed trading restrictions. In all three countries the restrictions exclude grocery stores/supermarkets, pharmacists/drugstores and other necessity services. As of yesterday, Russia also announced its … Continue reading
Oliver Schumy, CEO of IMMOFINANZ AG, leaves the Company as member of the Executive Board as March 18, 2020. The premature termination is based on mutual agreement due to personal reasons. “Oliver Schumy has made a valuable and lasting contribution … Continue reading
By Chris Igwe Over the past few years, there was a lot that has challenged the retail real estate sector at multiple levels that we do not need to enumerate here. We really did not need the coronavirus to further … Continue reading
By Jörg Bitzer One of the challenges that the current Corona crisis enforces upon us is the fact that it is yet totally unpredictable. The only “knowledge“ we do have so far, is that China`s hotspot Wuhan, having been quarantined … Continue reading
In addition to the information released on 16 March, the group has according to authorities temporarily also closed all its stores in Switzerland, Greece, Slovakia, Lithuania, Peru, Ukraine, the Philippines, Malaysia and Cyprus. The H&M group’s customers can still shop … Continue reading
“We’ve been following the activities of of the Polish government in the face of the epidemic threat with appreciation and attention. The safety and health of all Polish citizens is a priority for all of us. We are convinced that … Continue reading
“The business environment in the retail sector has changed very rapidly due to the effects of the coronavirus, and we estimate that the current situation will have a significant impact on our sales in the short term. In this challenging … Continue reading
Europe’s shopping streets are currently deserted. Besides Italy, France, Austria, and some other countries, even Germany has now decreed extensive store closures. This measure is supposed to help contain the coronavirus. Supermarkets, beverage shops, pharmacies, health care supply stores, drug … Continue reading
As the Covid-19 pandemic extends into Europe, a number of European governments have imposed restrictions or closure of retail premises. On 12 March 12, Eurocommercial published an update on the situation in its Italian shopping centres. Since then, further restrictions … Continue reading
At the same time, SES calls upon all its centers to comply with the federal government’s directives to stay at home and only use this opportunity get the absolute necessary supplies. For the moment, these provisions will remain in effect … Continue reading
Even the stores that would be allowed open according to the government’s edict will remain closed to avoid larger gatherings of people. With this decision, the shopping center’s operator, SES Spar European Shopping Centers, supports the Slovenian government’s measures to … Continue reading
According to the figures published by the National Bureau of Statistics at the beginning of last week, production decreased by 13.5 percent in January and February in comparison the same period of the previous year. China’s retail sector also reports … Continue reading
ESMA considers that lowering the reporting threshold is a precautionary action that, under the exceptional circumstances linked to the ongoing COVID-19 pandemic, is essential for authorities to monitor developments in markets. The measure can support more stringent action if required … Continue reading
In a press release dated March 12, 2020, Klépierre provided an initial update concerning the impact of the Covid-19 on its activities in Italy. This has since expanded to several Continental European countries, leading their governments to take further health … Continue reading
