Sharing for a better future

23 April 2020

Gündüz Bayer, Director Region Asia, talks in Across Magazine about the chance of accelerating necessary and inevitable changes in the real estate industry to prepare for a post-pandemic world. In his expert commentary he addresses the transformation to a new age of cooperation and future challenges of the shopping center business.

Gündüz Bayer, Director Region Asia, METRO PROPERTIES

Gündüz Bayer, Director Region Asia, METRO PROPERTIES

Looking into post-COVID-19 developments in China, it is clear that the economy will rebound and business in our centers will start to normalize. The sooner it happens, the less painful the effects will be. Now is the time for landlords and retailers to recognize opportunities and possibilities and use time effectively to prepare for a post-pandemic world. All involved parties, namely lessors, lessees, service providers and public authorities, have to play their part in this “New Age of Collaboration’’.

“We are facing an unprecedented situation in recent history, for both Turkey and the World. It makes us feel as if we were part of a science fiction movie, changing and limiting our daily life in a way we have never experienced before”, says Gündüz Bayer.

For the first time ever, Shopping Centers in Turkey have been closed for more than a month. The new situation creates entirely new circumstances and limitations which also produce unnecessary tensions between lessees and lessors. Facing the reality and acting quickly is essential for both parties to overcome the unknown. A general rule to handle this crisis is not existing. The parties have to navigate through this situation in the best way they can while being as flexible as they can. First priority for all parties should be the security of our customers and colleagues working at the front line. It is a partnership where risks and losses have to be shared between the stakeholders. Landowners and tenants should attach importance to ’’Saving the operational business’’ to survive and not to ’’cash in’’ on this crisis. There is light at the end of the tunnel but we need strong partners to re-energize our business when the situation gradually stabilizes and returns to normal.

The full article is avaiable at the across magazine (English only):

In Turkey, the M1 brand is among the most popular shopping centre brands. M1 Adana hosts 200 national and international brands on a leasable space of 90,000 square meters. Around 20,000 square meters of outdoor space are available for relaxation, leisure time activities and entertainment. The high standards of the centers are regularly recognized by customers and renowned industry experts. High sustainability standards have earned them numerous BREEAM certifications.

METRO PROPERTIES manages a total of 60 retail parks and shopping centers in Germany, Poland, and Turkey. Our joint venture MEC METRO-ECE Centermanagement GmbH & Co. KG is the leading company for the management of retail parks in Germany.

M1 Adana Shopping Centre