Barwa Commercial Avenue management’s decision to reduce rents of commercial properties by nearly 15% has come in for praise from tenants.
The management has already communicated the decision to the outlet operators, it is learnt.
The Barwa Commercial Avenue management has also reportedly decided to give a three-month rent-free facility to tenants who are renewing their contracts. As a result, the tenants need not pay rent for the months of March, April and May.
Responding to the management's decision, some of the tenants said it provides a “big relief to us”. They hoped the management would come up with more offers in the coming months to help improve business.
Some of the outlet owners said offers such as providing incentives to entrepreneurs who start their ventures at Barwa Commercial Avenue would help in attracting more businesses there.
One of the traders said some tenants, on their part, are working out plans to hold promotions to bring more customers to the place.
The Barwa Commercial Avenue management has also reportedly decided to give a three-month rent-free facility to tenants who are renewing their contracts.