The Real Estate and Infrastructure arm of Mubadala Investment Company, the Abu Dhabi-based sovereign investor, has announced the rent deferment plans for ADGM Square.

ADGM Square commercial tenants currently leasing office spaces in the four towers, Al Khatem, Al Sila, Al Maqam, Al Sarab will be entitled to avail the rent deferment programme.

Effective from April 1 until end of June 2020, tenants will be offered a deferment of rent and service charges for a three month period, with an option to defer their Quarter 2 or Quarter 3 payments.

As an alternative to a deferment of rent and service charges, tenants will also be offered the ability to make their payments on a monthly basis. This is in line with Mubadala’s earlier investment of 420 million dirhams in economic relief for tenants, out of which 70 million dirhams has been allocated to several relief measures for commercial tenants.

Ali Eid Al Mheiri, Executive Director of Real Estate & Infrastructure, Mubadala stated:"Our integrated response harnesses the reach of our portfolio both at home and abroad and aims to support businesses, individuals and communities in this global effort."

(Writing by Seban Scaria, editing by Daniel Luiz)

seban.scaria@refinitiv.com

#ABUDHABI #MUBADALA #INVESTMENT #ADGM

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