20% rent refund for Abu Dhabi restaurants, recreational facilities

Abu Dhabi’s restaurants, tourist, leisure and entertainment facilities can now claim a 20 percent refund on their annual rent as part of the emirate’s efforts to help businesses navigate the setbacks from the coronavirus pandemic.

"Now submit your requests to get a 20 percent refund on the value of the rent of your facilities. This is applicable to restaurants, cafes, cafeterias, and takeaway outlets, and all rental properties for establishments that engage in recreational activities," Abu Dhabi Department of Economic Development tweeted on Sunday.

Al-Arabiya had reported that the scheme falls under the ‘Ghadan 21’ coronavirus relief package and applies for businesses that have an annual rental value of at least 1 billion dirhams ($272.29 million). It allows them to claim up to 200 million dirhams ($54.46 million) as a refund.

Ghadan 21 is Abu Dhabi’s three-year 50 billion dirhams mega accelerator programme for initiatives aimed at attracting and supporting start-ups and small businesses, and spurring innovation through research and development to boost a knowledge-based economy. It was launched in 2019 by Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi.


Source: https://www.zawya.com/mena/en/business/story/20_rent_refund_for_Abu_Dhabi_restaurants_recreational_facilities-ZAWYA20200615073101/


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