Going the extra mile
The organised retail sector has been one of the worst-hit industries during the lockdown. While the industry has experienced macro-economic events like recessions and demonetisation in the past, the impact of COVID-19 has by far been the most devastating. There is a lot of expectation from retailers for rental waivers, reduction in rent and requests for extension of a credit line. It is important for mall owners to stay in constant touch with their retailers, monitor the situation and support them while maintaining focus on long-term value creation.
In the absence of any assistance to the retail realty sector, such as the moratorium on debt obligations and payment deferment from power companies, the extent of liquidity of funds with mall operators will remain a critical challenge to tide over the cash flow disruptions.
Knowing that getting back to work as per guidelines of the Government was not adequate, our teams went the extra mile and undertook rigorous precautionary measures to ensure a safe working environment at all Brigade campuses. These safety measures are being carried out every day to ensure a safer work environment.
“ It is important for mall owners to stay in constant touch with their retailers, monitor the situation and support them while maintaining focus on long-term value creation. ”
AVP Operations - Orion Malls, Brigade Group