SINGAPORE (May 22): Like many countries in the world, several European nations have imposed strict lockdowns curbing the movement of people and goods between March and May. The move, which has contributed to a 3.8% decline in the GDP of the region, is a bid to halt the spread of the coronavirus pandemic.

Business owners have since been feeling the pinch with several companies offering non-essential services shuttering operations. And this has shown up in the European Commission’s Economic Sentiment Indicator — a metric on business confidence which registered its strongest monthly decline of 27.2 points in April.

But as businesses look towards cutting costs, Cromwell European Real Estate Investment Trust (CEREIT) has interestingly bucked this trend with a positive rent reversion of some 12.1% for 1Q20 ended March. This comes mainly from e-commerce operators requiring space to store their goods amid disrupted global supply chains that have dented the flow of goods across borders.

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