Suntec City waives rents for all tenants in April
It will also provide rental rebates in May.
Suntec City is waiving the rents of all its tenants from 1 to 30 April, according to a press release. The waiver of rents will be funded entirely by the landlord and will also be extended to tenants providing essential services, such as supermarkets, pharmacies, food courts, restaurants and banks.
The mall will also pass on the property tax rebates to all mall tenants in May, amounting to about another month of rental reduction for most tenants.
Along with the one-month cash security deposit for mall tenants, almost all tenants can enjoy cash flow relief equivalent to a total of three months’ rent.