Bahrain Chamber, mall owners, discuss the way forward

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

The Bahrain Chamber announced holding a virtual meeting on Thursday with owners of shopping malls to identify the challenges facing shopping malls and mull solutions to revitalize their operations. Sameer Nass, the Chairman of the Bahrain Chamber, led the meeting with Chief Executive Officer Shaker Al Shater.

Nass highlighted the contribution of the retail sector to the national economy and affirmed the keenness of the Bahrain chamber in sustaining businesses and putting them on the path to recovery and growth. Shopping mall owners spoke about common obstacles key among them being the nonpayment of rent by tenants.

They called to revive the rent dispute committee to help reach an amicable consensus and reduce lawsuits. Mall owners voiced understanding of the preventive measures to curb the spread of the coronavirus and appreciated the support extended by the government. Owners also revealed receiving requests from tenants to either waive or reduce rent. They affirmed they would stand together as a business community to help sustain businesses.

Mall owners further shared concerns over the ongoing decline in occupancy rate, calling to reduce utility and municipality fees to ease their burden. Nass reiterated the readiness of the chamber to liaise with the government and mull means to reduce burdens on shopping malls. He also called on shopping mall owners to consolidate efforts to promote Bahrain and attract tourists to increase footfall in shopping malls.

Nass revealed proposing to establish a credit rating agency for business establishments, which will serve the private sector and help mitigate risks associated with business partnerships and transactions. He also announced that the chamber would soon launch an in-house mediation centre to serve its members.