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Shopping Centre's rent negotiation toughens

Responsible for about 40% of satellite stores in shopping centres, making approximately 40 thousand stores in the country, franchises have maintained mutual interest with the shopping centre sector. The growth of one benefits the other. So much so that, with the outbreak of the pandemic, which led to the closure of shopping malls for three to four months last year, franchisees were able to negotiate some cost reduction, including rent, condominium fees and other fees with mall managers. As the public started to return in the last quarter of 2020, the negotiations to maintain the same conditions have become more complicated, report brands and industry analysts.

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