Edamah offers extension on rents payment to businesses
Edamah announced a wavier of rents for all of F&B and retail tenants in its portfolio for the month of March
In a move to support tenants whose businesses have been affected by the impact of coronavirus (COVID-19), Bahrain Real Estate Investment Company (Edamah) has extended rent payments for April and May for businesses across its retail, F&B, and commercial portfolio.
Edamah is the real estate investment arm of the kingdom's sovereign wealth fund, Mumtalakat.
Edamah’s move comes a week after it announced a waiver of rents for all of F&B and retail tenants in its portfolio for the month of March.
Chief executive officer of Edamah, Amin Alarrayed, said that Edamah will continue to support the national efforts to limit the consequences of the pandemic on a local level and reduce the impact on various sectors.
He added that Edamah has been working to develop plans to ensure business continuity for small and medium enterprises (SMEs) in the kingdom.
Alarrayed said that Edamah will continue to offer real estate management and development services as part of its efforts to stimulate economic growth.