Abu Dhabi Offers 20% Refunds on Some Commercial Property Leases

(Bloomberg) --

Abu Dhabi, the oil-rich capital of the United Arab Emirates, started offering a 20% refund on the annual rental value of their commercial property leases of restaurants as well as tourism and entertainment facilities.

Businesses that started their lease in September 2019 or renewed their contracts from April 1 until the end of September 2020 will be refunded, Abu Dhabi Department of Economic Development announced on state-run WAM on Monday. The move is part of efforts to support private sector businesses from the impact of the coronavirus.

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