Around 8,000 tourism, leisure and commercial facilities and restaurants in Abu Dhabi are eligible for refunds of 20% of the annual rental value, on their commercial property leases, amounting to a sum of Dh1 billion.
They will get a refund of Dh200 million as part of the economic stimulus package launched by the Abu Dhabi government within the “Ghadan 21” programme to mitigate the impact of the coronavirus pandemic on business activities.
This was announced by Khaled Mubarak Bani Zama, director of the Industrial Development at the Abu Dhabi Department of Economic Development, during a media briefing. The department approved 220 applications from restaurants, tourism and entertainment facilities who applied for a 20 per cent refund on the annual rental value of their commercial property leases, Bani Zami said.
The Abu Dhabi government stressed that the refund of 20% of the total rental value paid by investors is applicable to those who started their lease from September 2019 or renewed their contracts during the period from April 1, 2020, until the end of September 2020.
The move is aimed to help enhance the confidence in the emirate’s business environment. The resolution covers all facilities practicing activities of restaurants, cafeterias, tourism and entertainment.
“The refunding of 20% of the value will ensure the sustainability of businesses in view of the current exceptional conditions facing the world at large,” Bani Zama said.
India on the other hand hasn’t offered any worthwhile benefit to the tourism sector, despite it being a job provider for millions of people in the country. It’s shocking to see that the sector has been totally ignored, despite the government announcing a Rs 20,000 crore relief package.
