Edamah waives March rent for all its tenants

TDT | Manama

Bahrain Real Estate Investment Company (Edamah), the real estate investment arm of the Kingdom’s sovereign wealth fund, announced that it has issued a waiver for all its Food and Beverage (F&B) and Retail tenants under Edamah’s portfolio for March in response to the Global COVID-19 pandemic.

Chief Executive Officer (CEO) of Edamah, Amin Alarrayed, said, “We see it as our duty at Edamah to work alongside our tenants to offer much needed support during this difficult time.

For this reason, and as a gesture of goodwill, be are issuing a one-month moratorium on the rents of our F&B and retail tenants, to mitigate any business downturn.

We will be closely monitoring the situation and want to reassure our tenants that their continued success is of the utmost importance to us.” Edamah said it is implementing measures to minimize the adverse business effects of the COVID-19 pandemic, which particularly affect the F&B and Retail sectors, and will reappraise the situation in due course.

One of the tenants of Edamah said, “Given the scenario we are facing, we deeply appreciate this gesture extended by Edamah and are relieved, as this will be a great help in maintaining the health of our business during this period.”