Bahrain waives 3-month rent for municipal properties

MANAMA — In a move to offset the impact of coronavirus on investors and traders, Bahrain has waived rents on municipal properties for three months, Bahrain News Agency reported on Wednesday quoting a statement from Bahrain’s Minister of Works, Municipalities Affairs and Urban Planning.

The minister has directed the concerned authorities to stop collecting rents from tenants of municipal properties for three months starting from April, the report said.


The move follows the directives the Prime Minister Khalifa Bin Salman Al Khalifa to support investors and traders under the current situation.

The initiative would cover all users of municipal property in supermarkets, stand owners, and tenants of small shops in malls and municipal shops, the report added.

The financial and economic decisions and measures help the government maintain sustainable growth and enable the private sector in the kingdom to overcome the effects of this crisis.

Bahrain has launched an economic package to provide necessary liquidity to the private sector to deal with the effects of the current conditions to maintain sustainable growth.
 


Source: http://saudigazette.com.sa/article/591658/BUSINESS/Bahrain-waives-3-month-rent-for-municipal-properties

 

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