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The shopping centers are recovering better than expected after reopening

2 months ago

MGVM has released the May update on the impact of COVID-19 on the real estate industry, defined through its managed portfolio.

The report explains, among other topics, the increase in visitor numbers in shopping centers after the containment measures have been reduced.

After the challenge for the retail trade and thus also for the shopping centers in April, May gives reason to be more optimistic about the frequencies. The number of visitors rose quickly to a level of 60-65% compared to the previous year.

“An excellent development, taking into account the currently still valid requirements, which limits the number of visitors to the retail and mall areas,” says Jochen Wilhelm, Team Leader Shopping Center Management Germany at MVGM. “People want to get out again and are looking for social contacts that they can find in city centers and shopping centers. It is important that you can trust these meeting places and that you can be sure that the hygiene requirements are met. We do everything to ensure that exactly this expectation is met and that local shopping becomes a positive social encounter that conveys relaxation and joy. ”

MVGM COVID-19 property management impact