MBK Center cuts rental fees on stores by up to 70% for three months
BANGKOK(NNT) – In an effort to help shop operators affected by the COVID-19, MBK Center has launched another assistance measure for store tenants, by increasing the maximum rental discount to as much as 70 percent for three months.
Mr. Suwet Theerawachirakul, Chief Executive Officer and Managing Director of MBK Center, and MBK Center executives convened a meeting recently with store operators to hear their problems and jointly discuss ways to help them. Short-term contract tenants, including operators of small and medium sized shops, will be offered a 70 percent discount in June, a 60 percent discount in July and a 50 percent discount in August. Other store operators will be offered a 30 percent rental discount, effective from June 1st to August 31st, 2020.
Long-term contract tenants will be offered a 50 percent discount on rental and service fees for three months from June to August. Vendors wishing to change product types can notify the MBK Center for consideration by the end of August. Most of MBK’s vendors are small and medium enterprises, and SME entrepreneurs; the company is willing to support Thai entrepreneurs in creating their own brands and distribution channels. MBK Center will open a promotional space free of charge for three months from 1st June – 31st August, 2019, to allow vendors to take turns selling their products at special prices.
Mr Suwet said he has reduced rental fees to help the store operators since the beginning of the COVID-19 situation. Today, another assistance measure was launched because he doesn’t know how long the situation will persist. The MBK Center itself has various expenses such as rental fees and salaries for its staff, but understands the suffering of store operators especially those with tourists as a target group because Thai airspace is still closed. Therefore, it is necessary to assess the situation day by day and find ways out, to help everyone survive together.