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South African mall operators will continue to provide Covid-19 rental relief

With rising debt levels and falling income, some have been forced to sell assets and agree to lower rental payments or offer relief to tenants in shopping malls and offices as more people worked from home, diminishing footfall.

Liberty Two Degrees CEO Amelia Beattie said during a media call that shoppers were slowly returning to malls but tenants had not recovered to pre-Covid-19 levels and would still need rental discounts.

The tenants that have yet to recover include hotels, hospitality, restaurants and fast food. L2D expects “to provide some support to them to the end of the first quarter of this year”, L2D’s Financial Director José Snyders added.

L2D provided R112m  of rental relief to its tenants for the year ended December…

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