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 2021, effective immediately. The move follows the directives of His Majesty King Hamad bin Isa Al Khalifa, who has ordered the launch of a financial stimulus package to counter the effects of the Coronavirus pandemic. Following instructions by HRH Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, government entities are implementing His Majesty the King’s orders to support sectors most affected by the global pandemic.
Following the announcement, Edamah Chairman, Khalid Al Rumaihi said that the recent directives issued by HM King Hamad will safeguard the economic security of the Kingdom, ensuring Bahrain is well placed to weather the effects of the pandemic. Mr. Al Rumaihi went on to reaffirm the company’s support for national efforts to combat the effects of COVID-19, led by HRH the Crown Prince and Prime Minister.
Edamah CEO, Amin Al Arrayed, noted that the decision to suspend rent collections will be implemented immediately across all eligible properties owned by the company following decisions made by the Cabinet, and in line with national and social responsibilities to help alleviate the pandemic’s economic impact on tenants.
Edamah manages a large number of properties across several sectors, including tourism and leisure.