Retailers Offered Rebates on Rents
There’s been a role reversal during the coronavirus era, with malls now offering their tenants buy-now-pay-later deals. Brigade Malls in Bengaluru is extending a 50% rebate on rent to its tenants from mid-March until its two malls reopen. Phoenix High Street Mall in Mumbai is giving retailers the option of paying March-June rents together in July, according to two retail executives. So far, only a handful of malls including Lulu in Kochi, Vegas in Dwarka, New Delhi, and Brigade in Bengaluru have given concessions from discounts to full waivers for a month.
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