Unibail-Rodamco-Westfield’s Net Rental Income Hit by COVID-19 Pandemic

  • Jul 30, 2020 AEST
  • Team Kalkine

ASX-listed global operator of shopping centres, Unibail-Rodamco-Westfield (ASX:URW) unveiled its half-year financial report.

URW disclosed that in the first half 2020 net rental income decline by 14.2% like-for-like after malls were forced to shut down during COVID-19 induced lockdowns.

Unibail reported net rental income of €1.06 billion, which were €1.13 billion in the first half of 2020.  The company notified that almost all of its centres were closed for a weighted average closure period of 67 days from mid-March.

Moreover, URW said footfall in the European centres has demonstrated encouraging recovery until now in the regions that reopen 11 to 12 weeks.

 


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