Kuwait Al Mazaya subsidiaries offer rent incentives against COVID-19

The initiative involves postponing and reducing rent fees

  
Image used for illustrative purpose. Panoramic view of Kuwait City at dusk.

Image used for illustrative purpose. Panoramic view of Kuwait City at dusk.

Getty Images/Emad Aljumah

Kuwait  - Al Mazaya Holding, listed on Boursa Kuwait and the Dubai Financial Market (DFM), announced that some of its subsidiaries have adopted an incentives package to support tenants and real estate investors affected by the coronavirus (COVID-19) pandemic.

The initiative involves postponing and reducing some rent fees during the crisis period, according to a statement to Boursa Kuwait.

These measures are expected to result in a deduction in rent revenues of KWD 700,000 to 1 million, based on the negotiations and respective agreements with tenants and real estate investors.

Source: Mubasher

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