News Businesses in this emirate to get a 20% refund...

Businesses in this emirate to get a 20% refund on rent

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A total of AED200 million will be refunded to restaurants, tourism and entertainment facilities in Abu Dhabi. 

Some 8,000 facilities in the mentioned field are eligible for a refund of 20 percent of the annual rental value on their commercial property leases worth AED1 billion. 

“The refunding of 20 percent of the value of helps support the private sector and enhance confidence in the emirate’s investment environment, thus ensuring the sustainability of business in view of the current exceptional conditions facing the world at large,” Khaled Mubarak Bani Zama, director of the Industrial Development at the Abu Dhabi Department of Economic Development. 

The refund is part of the emirate’s stimulus package launched by the Abu Dhabi Government within the ‘Ghadan 21’ program to help businesses who have been affected by Covid-19 crisis. 

Ryan Namia
Ryan Namia spends most of his days reading over drafts of new written content and determining which ones make the final cut for online and print publication. He received his Bachelor's degree in Journalism in 2015 and has been writing since 2016. Got story to tell? Email him at eic@theglobalfilipinomagazine.com.

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