Iran Mall, the largest shopping center in Iran, has so far opened 200 stores and in the case of sustainable workshop operations, all stores will be ready for use before September 2020, says Hamid Reza Kuroshfar the director in charge of the Leasing Department.
Iran Mall Public Relations Department quoted Kuroshfar as saying that a number of stores and commercial and cultural units have already joined service since last year. “In addition to cultural units and sports centers, almost 200 stores and retail shops have been opened and new units will be ready for leasing soon.”
Online Rental Application
Kuroshfar further noted that there are still units ready for rent. “Given the vastness of the mall, there are still units ready for rent. Applicants may refer to Iran Mall website and post their application to be reviewed and verified. Rental contracts have already been finalized for over 80 percent of the units.”
Iran Mall Leases Units on Joint Venture
Kuroshfar stated that Iran Mall inks leasing contracts with the applicants based on a joint venture. “In this method, Iran Mall collects a sum of money from the applicants or tenants as mortgage and by virtue of the contracts thus agreed, a percentage of daily sales will be deposited by the tenants directly into the account of Ayandeh Bank.
Iranian Brands instead of Foreign Brands
Iran Mall, as stressed by the Leasing director, prioritizes promoting Iranian brands in line with supporting domestic products. To that end, he said: “U.S. sanctions and government decisions to ban import of certain foreign products have made it hard to continue cooperation with foreign brands. Today, certain foreign brands face serious problems for presentation and operation in Iran Mall. To compensate for the loss, we have turned to Iranian brands. We should admit, however, that some Iranian brands are competitive in international markets in quality and price. Foreign brands are requested by law to produce the bulk of their products in Iran.
Violation of Cultural, Religious Codes Nullifies Contract
Elsewhere, Kuroshfar pointed to the cultural and promotional attachments to the contracts, saying: “The tenants must observe requirements of Iranian cultural, religious and social codes as well as Iran Mall rules and regulations. Any violation of these codes will render their contracts null and void.
Iran Mall Belongs to General Public
Kuroshfar further noted that any floor at Iran Mall has been specified for a certain profession and business not for a certain group. Iran Mall, in five stories (including its roof), has considered each story for a certain business. For instance, G0, defined as “Household” does not necessarily present household products; rather, it also contains stores and shops for fashion and clothing, and restaurant as well.”
He added: “I should add that there is a certain business for each floor but related businesses also find a chance for presentation since the mall is very large in size.”
Over 200 Units at Service
According to Kuroshfar, Iran Mall has already opened over 200 units, “although it may not seem to be eye-catching due to the vastness of the mall.” He attributed the slow process of leasing to the ongoing construction works.
Iran Mall to Be Fully Operational by September
Kuroshfar stated at the end that Iran Mall would be fully ready for use sometime in the first half of the next Iranian calendar year, falling on late September 2020. “This will be realized once all construction works come to an end before that time”
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