Thailand’s Central Pattana to waive the rent for retailers
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Thai retail property developer Central Pattana is to waive rent for tenants affected by the government’s shutdown order.
The company said in a statement that it will waive the rent for tenants who have been ordered to shut by authorities and offer rent reductions ranging from 10 percent to 50 percent for stores that remain open.
“We are confident that with complete cooperation from all parties we will overcome this challenge together,” said Precha Ekkunakul, president and CEO of Central Pattana. “We are ready to support every business to resume its normal operations and to help coordinate government aids for all sectors who have been affected during this crisis.”
The company has also organized call centers, pick-up counters and drive-through pickup points to support its food-and-beverage partners and customers.
Central Pattana said it plans to adjust its upcoming projects and is working on a plan to resume business operations after the crisis is resolved, in order to ensure its growth and return shareholders’ investment.
Central Pattana has temporarily closed all of its 15 shopping centers in Bangkok and 13 out of 18 shopping centers in the provinces. Essential services including supermarkets, pharmacies and convenience stores remain open during the closure.
Questions & Answers
Q.Which tenants will receive a full rent waiver from Central Pattana?
Which tenants will receive a full rent waiver from Central Pattana?
Central Pattana will waive rent for tenants who have been explicitly ordered to shut down by the authorities. This applies to businesses that are not permitted to operate during the current government shutdown orders.
Q.What kind of support is Central Pattana offering to its food and beverage partners?
What kind of support is Central Pattana offering to its food and beverage partners?
To support its food and beverage partners and customers, Central Pattana has organised call centres, pick-up counters, and drive-through pick-up points. These initiatives aim to facilitate continued operations during the shutdown period.
Q.How many of Central Pattana's shopping centres are currently closed in total?
How many of Central Pattana's shopping centres are currently closed in total?
Central Pattana has temporarily closed all 15 of its shopping centres in Bangkok. Also, 13 out of 18 shopping centres located in the provinces are also currently closed due to the situation.
Q.Are all types of stores within Central Pattana's centres completely shut during this period?
Are all types of stores within Central Pattana's centres completely shut during this period?
No, not all stores are closed. Essential services such as supermarkets, pharmacies, and convenience stores are explicitly stated to remain open within Central Pattana's shopping centres during the closure period.
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