Relief package for retail tenants hurt by lockdown measures
CAPE TOWN –
The Property Industry Group, which comprises key commercial property landlords as members, has announced an industry-wide relief package for retail tenants hardest hit by complying with South Africa’s lockdown.
The Property Industry Group, which comprises key commercial property landlords as members, has announced an industry-wide relief package for retail tenants hardest hit by complying with South Africa’s lockdown.
The initiative, which focuses on supporting affected SMMEs, also provides assistance to all other retail tenants, and will be rolled out by landlords nationally.
During the week of March 23, the major representative bodies for real estate in South Africa – SA REIT Association (SA REIT), SA Property Owners Association (SAPOA) and SA Council of Shopping Centres (SACSC) – formed a collective, the Property Industry Group, which has been coordinating its response to the COVID-19 pandemic, and specifically the economic effects of the 21-day lockdown.
Source: iol.co.za