Mubadala announces rent deferment for ADGM Square tenants

Abu Dhabi: The Real Estate and Infrastructure arm of Mubadala Investment Company, on Sunday announced their rent deferment plans for commercial tenants at Abu Dhabi Global Market (ADGM) Square as part of their economic relief measures.

The deferments, which are effective until the end of June, applies to leasing office space in their four towers of Al Khatem, Al Sila, Al Maqram and Al Sarab.

Commercial tenants will be offered a deferment of rent and service charges for a three-month period, with an option to defer their quarter 2 or quarter 3 payments. As an alternative to a deferment of rent and service charges, tenants will also be offered the ability to make their payments on a monthly basis under the plan.

“As a responsible global investor, we are committed to ensuring the health and safety of our employees, partners and the communities in which we operate,” said Ali Eid Al Muhairi, executive director of Real Estate and Infrastructure, Mubadala.

“Our integrated response harnesses the reach of our portfolio both at home and abroad and aims to support businesses, individuals and communities in this global effort. I am confident that by working together we can emerge stronger than ever before,” he added.

Mubadala last month also rolled out Dh420 million in economic relief support across its retail, residential, office leasing and hospitality sectors, with Dh70 million allocated for its commercial tenants.