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.