As part of their ongoing work in maintaining and attracting new business partners, Malaysia Airports Holdings Bhd (MAHB) is introducing a new rental model.
The airport operator is well aware of the difficulties its partners face as passenger traffic is decreasing, says MAHB group chief executive officer Datuk Mohd Shukrie Mohd Salleh.
"We are not going to allow the COVID-19 pandemic to disrupt our plans in elevating airport experience and service levels.
“We have to be ready for the time when the airports will return to its normal pace. This new rental model will also help facilitate business recovery for our existing tenants and provide them with some breathing space, while we undergo a gradual recovery in terms of traffic numbers," he said in a statement.
The new rate would decrease the rental rate by up to 30% to the existing rental, equivalent to the net savings of RM 45 million per year for participating tenants, whether the rent was signed up or registered under the ongoing commercial reset programme.
Since 2018, MAHB has launched an International airport trade reset initiative to revitalise retail experience since 2018, according to Mohd Shukrie, and this new rental model will ensure that the right brands are present at the airport despite COVID-19 's impact.
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