Iguatemi: Resuming rent collection earlier was the right strategy, says CEO

The more aggressive strategy than that of other networks would have resulted in an essential containment of financial losses, said the executive.

According to Carlos Jereissati, a more aggressive approach compared to other shopping mall networks resulted in significant containment of financial losses.

By: SiiLA News

11/09/2020

The president of the Iguatemi mall chain, Carlos Jereissati, insisted that the strategy of resuming the collection of rent from stores was already agreed in the second quarter of 2020, still in the critical phase of the pandemic.

The more aggressive strategy than that of other networks would have resulted in an essential containment of financial losses, said the executive. The company's investor relations manager, Cristina Betts, noted that, although the measure had an impact on the occupancy rates of the units and the default rate of tenants, these negative rates were in line with the rest of the market throughout the year.

Read the full story (in Portuguese).

Source: Valor Econômico

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