Rental relief measures have been tailored by OUE Group for retail tenants at Downton Gallery, Mandarin Gallery, OUE Bayfront, OUE Link and OUE Tower.
The measures in place to ease rental pressures from eligible tenants include:
- Waiver of gross rental for April 2020;
- Passing on in full the property tax rebates to be received from the Singapore Government;
- Flexible payment schemes, and
- Rental reduction of between 15% to 25%, to be reviewed on a month-on-month basis.
These are unprecedented times for all of us, and we at OUE Group are committed to sharing the burden with our tenants and working cooperatively to navigate through the uncertainty. As landlords we take a long-term view of the relationships we forge with all of our tenants. As such, we are prepared to explore and introduce further rental relief initiatives should the situation call for it.
Brian Riady, Deputy Chief Executive Officer, OUE Limited.
