Nepi Rockcastle said Central and Eastern European countries had tightened Covid-19-related measures and 77 percent of the group’s gross lettable area (GLA) was operating as of yesterday. Photo: Mika Aarensberg
Nepi Rockcastle said Central and Eastern European countries had tightened Covid-19-related measures and 77 percent of the group’s gross lettable area (GLA) was operating as of yesterday. Photo: Mika Aarensberg

Europe tightens Covid-19 prevention measures

By Edward West Time of article published Nov 11, 2020

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CAPE TOWN - NEPI ROCKCASTLE said Central and Eastern European countries had tightened Covid-19-related measures and 77 percent of the group’s gross lettable area (GLA) was operating as of yesterday.

The liquidity position of €1.2 billion (about R22bn) remained strong, the group said in a statement. Debt covenants showed “significant headroom”, and there were no significant financial liabilities due in the following two years.

In the Czech Republic, the government extended a trading ban introduced on October 22 on all non-essential shops until November 20, with restaurants allowed to operate for deliveries and take-aways. These measures affected about 2 percent of the group’s GLA in that country.

In Romania, Covid-19-related restrictions applied to several cities, including Bucharest, which affected 3 percent of GLA. Restrictions in Slovakia affected about 1 percent of GLA.

Slovakia undertook a nationwide testing programme over the past two weekends, revealing that about 1 percent of the population was Covid-19 positive.

In Poland, new restrictions affected about 16 percent of GLA. As of yesterday, a government decree issued in March that provided for the suspension of the tenants’ financial obligations for the duration of restrictions was still in place.

In Lithuania, restrictions affected about 1 percent of GLA. In Hungary, new measures would affect 1 percent of GLA.

Restrictions in Bulgaria, Serbia and Croatia did not prohibit the activity of any sector and, as of yesterday, 100 percent of GLA in these countries was operational.

BUSINESS REPORT

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