Business

Parliament Passes Rent Reduction as a Condition for Leniences on Real-Estate Loan

Parliament has passed the report Economic Committee has submitted to include reducing rent rates as a condition when allowing leniences in real-estate loans.

The report was submitted to provide parliament’s advice on the programmes implemented by the government to mitigate the losses incurred by the businesses and socioeconomic impacts faced by the individuals due to COVID-19 pandemic.

The report submitted by the Economic Committee states that loan repayment leniences given by the State for loans on real-estate projects which includes rented apartments and lands should reduce the rent rates.

This report was passed by 59 members vote and none of the attending members voted against the report.

Full details are available at the link below:

Source URL: Corporate Maldives

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