“The closure of shopping centers and the freeze during the lockdown led to a steep decline in sales, putting retail among the worst hit sectors of the economy. We knew we could not overcome a difficult time unless we worked together, so we tried to rise to the challenges of 2020, by providing real support to our stores,” said Arthur Popa, CEO of Baneasa Shopping City.
With the social distancing measures in place due to the pandemic and the decline in foot traffic in malls and shopping centers, Baneasa Developments decided to lower the rents to avoid affecting the businesses in the mall, he added.
(English version by Loredana Fratila-Cristescu)