Select businesses who have leases within defined timelines get to qualify
Abu Dhabi: Tenants in Abu Dhabi’s offices are in for up to 20 per cent rent relief as part of the emirate’s Rental Rebate Initiative.
This is an initiative dedicated to assist business owners with their rental contracts by providing a 20 per cent refund on their rental expenses,” a statement issued by Abu Dhabi Department of Economic Development said. “It is meant for restaurants, entertainment and tourism sectors (except hotels).”
To qualify for the rebate, must have had rental contracts signed between the period of October 1, 2019 and March 31, 2020, or rental contracts that will expire during the period of April 1, 2020 and September 30, 2020.
Mode of signing up
• Registration details that need to be provided include an Emirates ID, the company’s official bank name and branch and a letter from the bank showing the company’s official account name and number.
• Businesses will also have to provide the company rent contract – Tawtheeq – number as well as the rent contract start and expiry dates per tawtheeq. The entire registration process is done online.
The relief measures follow recent announcements made by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) on working to get government approved stimulus packages for the tourism sector, which would include utilities and rent covers as well as working capital to support the industry.
“We have presented several measures of support, including staff, utilities, and rent covers, working capital, and other non-financial issues as well,” Ali Hassan Al Shaiba, executive director for Tourism and Marketing at DCT Abu Dhab.
“These are subject to approval and practical assessment by the Abu Dhabi government, as we continue to explore all possibilities to ensure that our stakeholders receive the necessary guidance and assistance during this period”.
Gulf News. May 11, 2020