Baneasa Shopping City was the first mall in Romania to voluntarily shut down activity on march 23, before it was imposed by the government, and reopened mid- June.
At the beginning of this year, CEO Arthur Popa said the decline in turnover was partly due to the sale of the Grand Cinema & More cinema to Austrian giant Cineplexx.
With social distancing measures in place due to the pandemic and the decline in foot traffic in malls and shopping centers, Baneasa Developments said it has decided to lower the rents to avoid affecting the businesses in the mall.