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This Article is From May 11, 2020

Abu Dhabi Announces 20% Refund On Annual Lease For Restaurants: State Media

Eligible businesses will have to apply online for the refund, which is calculated against fixed rental costs, state news agency reported.

Abu Dhabi Announces 20% Refund On Annual Lease For Restaurants: State Media
Hotels in Abu Dhabi are excluded from the refund scheme
Abu Dhabi:

Abu Dhabi has announced a 20% refund on annual commercial property leases for restaurants and for tourism and entertainment facilities, state news agency WAM reported on Monday.

Eligible businesses will have to apply online for the refund, which is calculated against fixed rental costs, WAM reported, citing the emirate's department of economic development.

The report did not say who would bear the cost of the refund or whether the government would compensate landlords.

The refund scheme is aimed at easing pressure on businesses affected by government measures to contain the spread of the new coronavirus, WAM said.

The United Arab Emirates last month began easing restrictions on businesses, allowing shopping centres and restaurants to reopen under limited capacity.

Hotels are excluded from the refund scheme.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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