Thailand’s Central Pattana to waive the rent for retailers

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.