Sheikh Mohamed Bin Zayed Al Nahyan Crown Prince of Abu Dhabi and Chairman of Abu Dhabi Executive Council with an intention to support the private sector took an administrative decision.
Administrative Decision has been taken by Abu Dhabi Department of Economic Development (ADDED) , No 92/2020 related to 20% refund the lease rentals for the restaurants, tourist and entertainment sector in Emirate of Abu Dhabi.
It is applicable to the lease contracts of the following wherever found in Emirate of Abu Dhabi:
Restaurants, coffee shops and fast food meals outlets.
All real estate units rented to establishments which conduct entertainment activities.
All real estates leased to tourist and entertainment establishments.
Desert resorts and tourist farms.
Furthermore, such refund is applicable to the fixed lease rental under those new lease contracts which were concluded between 01 Oct 2019 till 31 March 2020 and those lease contracts which are going to be renewed between 01 April 2020 till 31 September 2020 regardless their date of execution.
Yet the refund mechanism will be determined by ADDED.
By Sheher Bano