Mapletree sets aside up to $13.7m for tenants

Rental rebates will be disbursed in a targeted manner.

Mapletree Industrial Trust will set aside up to $13.7m in relief for tenants in Singapore according to an announcement. Under this package, rental rebates will be disbursed to tenants in a “targeted” manner across different trade sectors.

Rental rebates of up to 1.5 months of fixed rent will be given to retail tenants whilst industrial canteen operators will be given a rental rebate of one month of net rent, excluding service charges by May.

Additional support measures, such as a rental rebate of up to half a month's net rent, or using cash security deposits to offset rents due, will be available to industrial tenants on a case-by-case basis.

The programme is aimed at easing the pressure on tenants from supply-chain disruptions and drops in business volume. The trust will also pass the property tax rebates in full to all tenants in its properties in Singapore, which will amount to around $10.5m.