Move follows on from earlier measures which exempted selected tenants from paying rent in March
Edamah, the real estate investment arm of Bahrain’s sovereign wealth fund, has said that it will be deferring rent payments for its retail, food and beverage and commercial portfolio for the months of April and May in light of the Coronavirus (COVID-19) situation.
In a statement, the company said the move was in line with its efforts to support those tenants impacted by the global pandemic. The move follows on from its earlier measures, which exempted selected tenants from paying rent in March.
Amin Alarrayed, CEO of Bahrain Real Estate Investment Company (Edamah), confirmed that the company is continuing to support national efforts to limit the repercussions of COVID-19 on a local level, and reduce the impact on various sectors of the economy.
“We are also working on developing plans to ensure business continuity for small and medium enterprises,” he stated.
Alarrayed affirmed that Edamah was one of the first companies to support entrepreneurs in the commercial sector by providing relief measures to safeguard economic development in light of the current situation.
“At Edamah we consider this our duty as an integral part of Team Bahrain,” he stated.
Alarrayed also stressed that the company will continue to offer real estate management and development services as part of its efforts to stimulate economic growth.