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Bahrain's Edamah announces rent deferrals for April, May

MANAMA, March 24, 2020

Edamah, the real estate investment arm of Bahrain's sovereign wealth fund, said it will be deferring rent payments for its retail, food and beverage (F&B) and commercial portfolio for April and May in view of the new Coronavirus (Covid -19) situation.

In line with its efforts to support those tenants impacted by the global Coronavirus (Covid-19) pandemic, Bahrain Real Estate Investment Company (Edamah) has announced that it will be deferring rent payments for all affected businesses across its retail, food and beverage (F&B) and commercial portfolio for April and May.

Edamah, the real estate investment arm of Bahrain's sovereign wealth fund, follows on from its earlier measures which exempted selected tenants from paying rent in March.

CEO Amin Alarrayed confirmed that the company continues to support the national efforts to limit the repercussions of the Covid-19 on a local level and reduce the impact on various sectors.

"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.-TradeArabia News Service




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