The Portuguese Association of Shopping Centers (APCC) believes that the new variable income regime for shopping centers will benefit the large retail groups, which represent the majority of stores. At a hearing in parliament this week, the APCC argued that only 23 percent of stores are local or small shop keepers and that the regime of variable income would result in a 42 percent discount on rents, if it were applied to 2019. This, it claims, would create serious distortions in the market between shopping center tenants and smaller street retailers and would result in serious distrust from investors. The APCC said that the state shouldn’t be interfering in private contracts in effect is forcing one part of the private sector to subsidize another.
