Coronavirus: SPH Reit to give eligible tenants full rental waiver for April and May on top of earlier rebates

SPH Reit's properties comprises Paragon (above), The Clementi Mall and The Rail Mall.
SPH Reit's properties comprises Paragon (above), The Clementi Mall and The Rail Mall.PHOTO: PARAGON

SINGAPORE - SPH Reit will extend more help to tenants in view of the extension of the circuit breaker period to June 1.

It will give full rental waiver for April and May this year for eligible non-trading retail and medical tenants, the Reit said on Wednesday (May 6).

Together with the rental rebates granted in February and March, total rebates will average 2.3 months and will be fully funded by the Reit.

Additionally, SPH Reit will fully pass on the Government's enhanced property tax rebates to its tenants. The rebate for qualifying retail and medical tenants is 100 per cent of the property tax payable, which is equivalent to a little over a month's worth of rentals. For office tenants, the rebate is 30 per cent of property tax payable.

SPH Reit CEO Susan Leng said: "The Covid-19 situation continues to evolve and the measures implemented to combat the spread have affected the businesses. SPH Reit remains fully committed to support our tenants to ride through this unprecedented situation to overcome this crisis together."

SPH Reit is sponsored by Singapore Press Holdings, which publishes The Straits Times. Its Singapore properties comprises Paragon, The Clementi Mall and The Rail Mall.