Nepi Rockcastle says tenants have almost fully recovered as lockdowns ease
Tenant sales, excluding hypermarkets, were up more than half in the three months to end-March, but the group is battling surging costs
18 May 2022 - 10:20
UPDATED 19 May 2022 - 11:25
Nepi Rockcastle, the largest mall owner in central and Eastern Europe (CEE), says its tenants enjoyed an almost full recovery from the effects of Covid-19 lockdowns in early 2022 and, though costs are surging, so far the direct effect from Russia’s invasion of Ukraine on occupants has been limited.
Footfall rose more than a third in the three months to end-March, Nepi said in a first-quarter update, with tenant sales up more than half, when excluding hypermarkets, indicating a return to pre-pandemic levels...
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