Corononavirus: Edamah issues one-month moratorium on rent for F&B and retail tenants
Firm is the real estate investment arm of the Kingdom’s sovereign wealth fund
The Bahrain Real Estate Investment Company (Edamah) has issued a waiver of rent for all its food and beverage (F&B) and retail tenants for the month of March. The move is said to be a goodwill gesture in response to the global Coronavirus (COVID-19) pandemic.
“We see it as our duty at Edamah to work alongside our tenants to offer the much-needed support during this difficult time. For this reason, and as a gesture of goodwill, we are issuing a one-month moratorium on the rents of our F&B and retail tenants, to mitigate any business downturn,” said Amin Alarrayed, CEO of Edamah.
Edamah says it is maintaining its commitment to serve its tenants, implementing measures to minimise the adverse business effects of the COVID-19 pandemic, which particularly affect the F&B and retail sectors, and will reappraise the situation in due course.
Alarrayed added, “We will be closely monitoring the situation and want to reassure our tenants that their continued success is of utmost importance to us. As such, we will reappraise the situation after this period with the business health of our F&B tenants in mind.”
