Mubadala gives commercial tenants a three-month delay

UAE

Mubadala offers the commercial tenants at ADGM Square in Abu Dhabi a three-month postponement or rental and service fee in response to the economic impact of the Covid-19 outbreak.

The real estate and infrastructure arm of Mubadala Investment Company announced the plans on Sunday for tenants in the four towers, Al Khatem, Al Sila, Al Maqam, and Al Sarab.

Tenants will be given the option to postpone payments for the second or third quarters, or alternatively, they can also make payments monthly.

This comes after Mubadala’s previous investment of 420 million dirhams ($ 114.4 million) in economic relief for tenants, of which 70 million dirhams (19.1 million dollars) has been allocated to many relief measures for commercial tenants.

The initiative is effective from April to the end of June.

Mubadala announced that as a responsible global investor, it is committed to ensuring the health and safety of its employees, partners, and the communities in which it operates.