representative imagereal estate developers are cutting operational costs such as common area maintenance in order to reduce burden on retailers impacts due to the covid19 according to industry experts developers are also renegotiating their leasing arrangements and business models to sustain the momentumthe negotiations between retailers and investors have improved and increased significantly postpandemic at this juncture it is extremely crucial for developers to earn the trust of customers and boost their confidence as their allies especially in these testing times understanding the current market sentiments we are not hesitant to go the extra mile to offer the best proposition at all times to our valued partners said pankaj bansal director m3m advt at present the company is offering a oneyear revenue share the sales in malls have reached 7080 of the precovid levels and the businesses are booming we are confident that we will witness promising results in the next few quarters bansal added elan group that operates multiple retail assets in gurgaon is renegotiating contracts with key brands to ensure a winwin partnership with its patronswe are open to discussing the existing terms and conditions with brands and have also instituted flexible revenue sharing models to help them tide over the impact of the pandemic the regaining pace of business activities has revived sentiment and will lead to the quick rebounding of the sector retail spaces are gradually regaining footfalls albeit with health hygiene and wellness measures we foresee the consolidation of the industry in favour of the organized developers who have an excellent track record said ravish kapoor managing director elan groupabhinav c ajmera president leasing omaxe ltd expects omnichannel shopping to be the norm in the postpandemic world while he said that restricted timings especially in states such as maharashtra have been a deterrent to boosting sales the upcoming festive season will set the pace towards recovery as a result of a strong revival in consumer sentiments shopping malls have registered a rebound in sales reaching 5060 of precovid levels segments such as apparel food supermarkets etc have witnessed good growth renegotiations and waivers were agreed upon on a casetocase basis during the first wave of the covid19 pandemic and owners and tenants have agreed to be accommodative in their joint efforts to bring footfall and spur spending said abhinav c ajmera president leasing omaxe ltd advt omaxe ltd is executing omaxe chowk at chandni chowk new delhi through its subsidiary omaxe heritage pvt ltd in collaboration with north delhi municipal corporation ndmc the project is conceptualized as a onestop retail destination and will give a major facelift to chandni chowkthe pandemic situation leading to prolonged closures have left both malls and retailers under tremendous financial stress we are therefore working out mutually beneficial solutions to have a winwin situation for both the mall and our tenants we have accordingly worked out appropriate concessions keeping in mind the category of the brand state of the business during the lockdown period whether open for food