Eskan Development requests rent reassessment due to COVID-19 impact: Al Mashaar REIT

23/02/2021 Argaam

Al Mashaar REIT Fund received, on Feb. 22, 2021, a notification from Eskan Development & Investment Co., a tenant, requesting re-evaluation of the rent due for the current period by appointing an independent expert, due to the exceptional circumstances arising out of the pandemic, fund manager Muscat Capital Co. said in a bourse statement.

 

The fund manager is evaluating the request, and is currently unable to determine the impact accurately. Any future developments will be announced in due course.

 

In November 2020, Al Mashaar REIT Fund’s board of directors decided to exempt Eskan Development & Investment Co. from rent for the period from March 15 to Dec. 31, 2020, Argaam reported.

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