COVID-19: Seef Properties supports mall tenants in Bahrain

Bahrain

The tenants of the commercial malls, Bahrain Bourse-listed real estate developer Seef Properties has formed a $2.6m (BHD1m) financial fund to assist Bahrain’s national campaign to combat novel coronavirus (COVID-19).

The company has announced the financial assistance in a stock market filing to be in the light of the ongoing situation and the precautions taken into consideration. 

It also added that it has approved sets of measurements to ensure the rules with the authority guidelines for its commercial malls and outlets.

According to Seef Properties, the financial impact of the fund will be reduced by $2.6m (BHD1m) from its rental income for 2020.

The decision is made upon the meeting held by the Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, HRH Prince Salman bin Hamad Al Khalifa and chairman of Seef Properties to be inline wi the development related to the pandemic spread.

Upon the meeting words, these national steps are taken upon their continuous commitment for protection in these exceptional circumstances.

This fund supports the country’s effort to fight the pandemic that it becomes a great threat to the business and financial sectors all over the world.

The CEO of Seef Properties added they are doing their best through this fund to maintain the flexibility of the business environment offered in their malls and their ability of adaptation to all status to maintain success.