Resilient says it has provided about R160m in rent relief
This equates to about 90% of the average rent collected in a month
Mall owner Resilient said on Tuesday it has provided about R160m in rent relief to tenants since SA entered lockdown in March, about 90% of an average month's billing.
Agreement for rentals over the lockdown period has been reached with over 90% of tenants, the group said.
Although arrears have increased, they are anticipated to decline as settlement is reached with the remaining tenants.
The group, which owned 28 retail centres as at the end of December, said on Tuesday that vacancies in the portfolio increased marginally from 1.9% at December 2019 to 2.1% as of June 2020.
In afternoon trade on Tuesday, Resilient's share had risen 0.73% to R44.33, having fallen about a third so far in 2020.