SPH REIT to grant full rental waiver to retail and medical tenants

A rental relief of 30% will be given to eligible office tenants.

SPH REIT will be granting full rental waiver for April and May 2020 to eligible non-trading retail and medical tenants amidst the circuit breaker extension, according to an announcement.

Qualified retail and medical tenants will be given 100% rebate of the property tax payable, equivalent to slightly more than a month’s rental, whilst eligible office tenants will receive 30% tax rebate.

Additionally, SPH REIT will fully pass on the enhanced property tax rebates to its tenants as part of the government’s resilience budget announced on 26 March.

Together with the rental rebates granted in February and March, the total rebates average 2.3 months and are fully funded by SPH REIT.