Mauritius | Real Estate

September 04, 2013

Malls: Falling Rents Is Not Envisaged

If all the malls do not know the expected attendance, lower rates although requested by some traders, is not on the agenda.

In Flacq Shopping Mall , for example , it is assumed that some tenants have asked for a reduction in their rents. You should know that the mall is experiencing attendance is not up to the expectations of management .
This can be explained by the competition of the city center shops and the fair Flacq . However, lower rents is not on the agenda , according to Ashwin Chinnayya , director of Flacq Shopping Mall. "We are currently working on a strategic plan , but the decline in rents is not provided . We further support for traders who , as is the case everywhere in Mauritius, go through a difficult period. It is , for example, contact the center to increase attendance , "says Ashwin Chinnayya .
If attendance Kendra mall, St -Pierre is good compared to the expectations of management , we remember that different merchants located there called it a few months ago , a decline in rents. "We do have requests, but that is a minority. In our experience , this is normal in the first year of operation of a center. Customer loyalty gradually and brands are adapting to a new environment , "says Xavier Audibert , Portfolio Manager Kendra .
However, the mall does not intend to review its rents down because , as stated Xavier Audibert , it is not the policy of the mall. "We attach great importance to support our tenants so they can sell in their original objectives . These marketing support, sharing experience based on the evolution of teaching of the same class of customer surveys to help us understand the application and training among others, " he said.
By cons , some malls, the question of a decline in rents does not arise . This is for example the case where Bagatelle Mall of Mauritius , with a 14% increase in visitor numbers in July 2013 compared to July 2012 , management noted that tenants are mostly satisfied with their sales. 

 

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