Sharjah property owners told to offer rent relief for tenants

Sunday, 5 April 2020 15:16

Landlords in Sharjah have been instructed to offer tenants respite from rental payments during the current COVID-19 crisis.

The Sharjah Chamber of Commerce and Industry (SCCI) also urged them to find financing solutions for their tenants.

During a virtual meeting headed by Saeed Ghanem Al Suwaidi, Chairman of the Representative Committee of the Real Estate Sector Business Group, the decision was also made to delay payment options for those renting commercial premises.

The measures, which is in line with the policies put forward by the Sharjah government, will help business owners stay solvent, and support the local economy.

They also discussed the possibility of rescheduling rental payments, implementing exemptions in specific cases, and online payment systems.

More from Business News

UK's Jaguar Land Rover to halt US shipments over tariffs

Jaguar Land Rover will pause shipments of its Britain-made cars to the United States for a month, it said on Saturday, as it considers how to mitigate the cost of President Donald Trump's 25% tariff.
US starts collecting Trump's new 10% tariff

U.S. customs agents began collecting President Donald Trump's unilateral 10% tariff on all imports from many countries on Saturday, with higher levies on goods from 57 larger trading partners due to start next week.
Nasdaq set to confirm bear market as Trump tariffs trigger recession fears

The tech-heavy Nasdaq Composite index was set to confirm it was in a bear market on Friday, down more than 20 per cent from a recent record high, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession.
Dana Gas and Crescent Petroleum exceed 500M boe in Khor Mor field

UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).