Bahrain businesses offered rent reductions
Rents halved on municipal units to help struggling businesses
BUSINESS owners in Bahrain who rent space from one of the Kingdom's five municipalities could soon see their rent bills halved.
According to Gulf Daily News, Bahrain's parliament voted to introduce a 50% discount for businesspeple within government buildings in a bid to help firms that have struggled as a result of ongoing political unrest in the country.
The country's public utilities and environment affairs committee's chairman, Hassan Al Dossary said that many firms have been unable to pay rent to municipal leaders due to a dramatic fall-off in business.
"Many businesses have late payments overdue to the concerned municipality and are struggling to get a profit margin because of the unrest, its effects and the market's instability.
"The halving of monthly rents is temporary - till the market regains its strength and is able to stand on its feet," he added.
However, he also said that the municipal government would also make sure that all outstanding rents are eventually recovered, and that Bagrain's cabinet would eventually decide when to re-introduce full rents.