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Shopping Centers are satisfied with the newly announced support in Turkey

SCIA Chairman of the Board Prof. Dr. Altas said: “Measures including many support such as extending the duration of the VAT discount, continuing VAT discounts in many sectors, and providing rent support to tradesmen are pleasing.”

Chairman of the Board of the Shopping Centers and Investors Association (SCIA) Prof. Dr. Huseyin Altas stated “The measures that include many supports such as extending the duration of the VAT discount applied in business leasing, continuing the VAT discounts in many sectors such as food and beverage, accommodation, passenger transportation, and providing rent support to tradesmen are pleasing.”

Altas made evaluations regarding the good news that President Recep Tayyip Erdogan announced to relieve the economy within the scope of combating the pandemic after the Presidential Cabinet Meeting.

Stating that the pandemic affected many sectors negatively, Altas said, “The economic supports implemented by our country are important in terms of reducing these negative effects to some extent. We, as shopping centers, continue to provide support to our retailer as much as we can, as from the first days of the epidemic.”

Altas pointed out that shopping center investors, for example, do not ask for rent from cinema, children’s entertainment center, and similar businesses, whose activities were suspended with circulars, and they are also offered discounts of up to 70% for each tenant according to the sectors, and continued his words as follows:

“Within the scope of these supports, our tenants, especially those operating in the retail and food and beverage sectors, who are our stakeholders, have been provided with more than ₺5 billion of rent support by the shopping center investors so far. In order to protect employment and economic activities during the measures taken by the public authority, we also recommend that our tenants, who are our stakeholders, continue to be provided with the support of our members to each tenant in the coming period. As a shopping center investor, who does not hesitate to take responsibility for the support of its retailer and strive to provide all kinds of support, we would like to emphasize that it is of vital importance to show a similar approach to our investors by financial institutions in order to eliminate the negative effects of this process on our industry and the national economy as soon as possible.”

Altas expressed his gratitude to Turkey, especially President Erdogan, on behalf of the sector in terms of all these positive measures and assistance announced.

Source: AA / Translated by Bazaar Times Team

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