Major mall developers waive rents for tenants

Several major Philippine mall developers, including Megaworld Corporation, Filinvest Lifemalls, AyalaMalls, Robinsons Land Corporation, and the SM group, have announced rental fee waivers and condonations to support their tenants during the Luzon-wide enhanced community quarantine.

Megaworld will waive rental fees for its tenants in Metro Manila and Luzon from March 16 to April 12, and will also assist operational merchants like supermarkets and pharmacies with sanitation efforts.

The company is also extending food assistance to healthcare and medical personnel in various Metro Manila hospitals and to border security personnel from the PNP and AFP.

AyalaMalls previously announced a rent condonation valued at P1.4 billion for the period of March 16 to April 14.

Robinsons Land Corporation is waiving rental charges for its non-operational tenants in malls shut down during the quarantine.

The SM group is offering the broadest waiver, covering all 74 of its malls nationwide from March 16 to April 14.