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Large Shopping Centre Owners Ask for a Rescue Plan for the Sector

17 April 2020 – Brainsre.news

The request has come from Merlin Properties, Unibail, Klepierre, Lar España, Carmila, General de Galerías Comerciales and Castellana Properties.

The large owners of shopping centres in Spain are asking the Government for a rescue plan for the retail sector. Their activity has been shut down since the State of Emergency was decreed on March 14 and they are asking the Executive for a series of measures, including: access to the ICO financing fund; to make sales without VAT for a month; to open on Sundays until 2021; to receive aid for the payment of business rent; and to be granted tax exemptions, amongst other measures, according to Cinco Días.

The request is coming from owners such as Merlin Properties, Unibail Rodamco, Klepierre, Lar España, Carmila, General de Galerías Comerciales and Castellana Properties. These companies point out that the retail sector, which is made up of more than 500,000 companies and 1.8 million professionals across the country, is one of the hardest hit by the Covid-19 crisis – along with tourism and hotels.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake