Spotlight in The Mall of Holland for Unibail | Financial issues

Spotlight in The Mall of Holland for Unibail |  Financial issues

The mega shopping mall near The Hague officially opened last March, although restaurants, cinemas and many stores remain closed. Because of the aura scales, there has also been little celebration about it. However, 70,000 people attended that weekend. Meanwhile, 92% of retail space has already been allowed, according to Unibail’s report on Wednesday after the show in its quarterly report. The group has invested more than 600 million euros in the complex.

Unibail has nearly a hundred malls across the world. Retailer sales in the United States reached 87% of their 2019 levels in March, and sales in continental Europe ranged between 76% and 81% compared to two years ago.

Many stores, so Unibail tenants, have been struggling for some time due to all the coronavirus measures. This is why Unibail has also been able to generate less rental income.

Rental income from shopping malls decreased 34% in the first quarter from a year ago. The four Dutch malls performed relatively well at -19.1%. In the UK, rental income has decreased by 63%, and in France it is less than 49%.

Due to the continuing uncertainty, the company listed on the Amsterdam Stock Exchange cannot issue a full-year financial forecast.

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