On Tuesday, South Africa’s Property Investment Group (PI Group) announced that it would expand and extend its help and relief guidelines to assist retail tenants during the current crisis.
The group expanded their assistance by adding more retail categories, providing more options. According to the announcement, the extension means benefits will now apply for three months, instead of two.
It was suggested that small, medium and micro-enterprise (SMME) retailers are given 100% discounts for April, with large rental discounts and interest-free deferrals for May and June respectively.
The relief will not apply to office, logistics, warehousing, industrial, healthcare and hospitality. These tenants are informed to discuss their situations with their landlords, who will consider a solution based on the specific details of each case.