MANAMA: Eligible tenants of properties owned by Bahrain Real Estate Investment Company (Edamah), the real estate arm of Mumtalakat Holding Company, will have their rent payments waived from June to August, effective immediately.

The move follows the directives of His Majesty King Hamad, who has ordered the launch of a financial stimulus package to counter the effects of the coronavirus pandemic.

Edamah chairman Khalid Al Rumaihi said the directives issued by His Majesty will safeguard the economic security of the kingdom.

Edamah chief executive Amin Al Arrayed noted that the decision to suspend rent collections will be implemented immediately across all eligible properties owned by the company.

Edamah manages a large number of properties across several sectors, including tourism and leisure.

© Copyright 2020 www.gdnonline.com

Copyright 2021 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.