Porto Franco’s response to T1: A properly developed shopping centre has to have 100% tenant occupancy by the time it opens.

‘We in Porto Franco wish to clearly distance ourselves from opinions, of some managers of T1 that have been published by the media, namely that a modern centre does not need to be completely ready when it opens for the public, and that it is intentional that some of the most attractive premises have been left vacant, so that major brands could come and offer themselves. In our opinion a properly developed centre should have 100% tenant occupancy when it opens, and that all stores in the centre have to be ready for business or, alternatively, that the general public has been given a clear message about which stores would be opened later, and when,’ says Rauno Teder, the Chair of the Management Board of Porto Franco.

‘Indeed, shopping centres do and should develop continuously, and changes take place in the centre throughout its entire period of operations, but it cannot serve as an excuse for opening a half-vacant centre. The first impression that visitors get does matter, and it will serve as the basis on which clients will make their subsequent choices. This means that if the first impression is good, the client will come back. In my opinion the occupancy rate shows tenants have faith in the new centre,’ Rauno Teder added.