SPH REIT Commits To Provide Tenants’ Assistance Scheme To Help Them Tide Through COVID-19
February 28, 2020 — SPH REIT will be rolling out a tenants’ assistance scheme to help mitigate the impact of COVID-19 on the performance of its tenants in its Singapore assets. SPH REIT will engage its tenants to assess the impact of COVID-19 on each of their businesses and provide a holistic relief package to mitigate their situations.
This is in addition to the 15% property tax rebate announced in Singapore Budget 2020, which SPH REIT will pass on the full savings to qualifying tenants. Other initiatives to encourage visitations to its assets will also be introduced in March 2020. At selected malls, more complimentary parking will be offered and preferential rates or full waiver for use of atriums and/or common areas will be granted for collaborative events with tenants to drive footfall and sales.
SPH REIT’s malls will continue their standard trading hours, but tenants have the option of operating shorter trading hours to alleviate staff cost and manpower planning.
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