Rent exemptions to support businesses in Qatar


Rent exemptions to support businesses in Qatar

More organisations and companies in Qatar have announced exemptions for clients and tenants, in line with His Highness the Amir Sheikh Tamim bin Hamad alThani’s directives and the efforts made by the state to overcome the challenges posed by the novel coronavirus (Covid-19) outbreak. 

Hassad, Qatari Diar Real Estate Company, Qatar Fuel (Woqod) and Ezdan Mall yesterday joined several other Qatari entities in extending exemptions. 

In a statement, Hassad, Qatar’s premier investor in the food sector, announced an exemption from rent for tenants at Al Sailiya Central Market and Al Wakra Central Market for a period of six months, from April until September. 

Similarly, Qatari Diar Real Estate Company announced a rent exemption for tenants at the company’s Lusail Marina restaurants and cafes, as well as the shops that continue to operate in Barwa Commercial Avenue (Abu Hamour), for three months starting April. 

The decision comes in line with the directives of the wise leadership and the commitment of Qatari Diar towards its social responsibility, the official Qatar News Agency reported.  

In view of the current circumstances, Qatar Fuel (Woqod) also announced a rent exemption for the months of April, May and June for all its tenants. “Wishing you health and wellness” Woqod said in a post on social media. 

Ezdan Mall said it was exempting all retailers at Ezdan Mall Gharafa, Ezdan Mall Al Wakra and Ezdan Mall Al Wukair from rental obligations for the months of March, April and May as a “supportive initiative in facing the current challenges and as part of our national commitments”. 

Earlier, Katara – the Cultural Village Foundation, Manateq, Msheireb Properties, Mall of Qatar, Barwa Real Estate Group and Aspire Zone Foundation (AZF) had announced similar exemptions. 

Katara said it was exempting all investors, including owners of restaurants and cafes operating at the Cultural Village, from rent and other fees such as those pertaining to electricity and water, until further notice. 

Msheireb Properties, the leading sustainable real estate developer, announced that all retailers and F&B tenants at Msheireb Downtown Doha would be exempted from their rent and utility bills until further notice. The intent of the initiative is to lighten the financial strain on investors and businesses as Qatar implements measures designed to promote social distancing and limit large gatherings”, the company said in a statement. 

Manateq said all logistics parks and industrial zones in the country were exempted from rent payments for a period of six months, with effect from March 15. 

AZF said it exempted retailers from rent as well as water and electricity fees until further notice. 

Barwa Real Estate Group announced the postponement of rent payments at its commercial units, showrooms, warehouses, workshops and offices, for a period of three months starting April. 

Mall of Qatar, too, said all mall tenants were exempted from rental costs from March until May. 

As per a slew of measures announced recently to deal with the situation, food and medical goods will be exempted from Customs duties for a period of six months, provided this is reflected in the selling price to the consumer. Also, a number of sectors will be exempted from the electricity and water charges for a period of six months. Logistics areas and small and medium industries are also to be exempted from rent for six months. 

Qatar Central Bank will provide additional liquidity to banks operating in the country and the banks will postpone loan instalments and obligations of the private sector for a grace period of six months. Qatar Development Bank will also postpone instalments for all borrowers for a period of six months.  

 

Source: Gulf Times (Dated: 18/03/2020)