Kuwait slashes 50% rent for July and August

The total cost of all discounts for investors in the Avenues will reach about $130mln until the end of next August

  
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 CITY - The management Mabanee Company decided to exempt rent for shops in the Avenues Mall by 50% of total rent value for coming July and August after it had exempted them from the full value during March, April, May and June.

The total cost of all discounts for investors in the Avenues will reach about 40 million dinars until the end of next August.

The Mabanee confirmed its keenness to support its investors during the period of the Corona Virus pandemic, which still casts its effects on various sectors in all countries of the world, indicating that it had taken a number of new decisions to complement its previous decisions regarding its investors in the Avenues who were unable to carry out their activities due to government measures with the aim of coming together with them and minimizing the harm done to them.

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