Qatar’s exemption of the hospitality and tourism, retail sectors and commercial complexes from electricity and water consumption charges for a period of six months will bolster the country’s real estate sector, Ezdan has said in a report.
Many institutions and entities have started implementing relief measures following the directives of His Highness the Amir Sheikh Tamim bin Hamad al-Thani, it said in its monthly report.
Economic Zones Company Manateq announced that it would comply with the government directive on this and began exempting logistic and industrial areas for a period of six months from rents.
A major bank announced that it provide relief to SMEs for a period of six months.
The report mentioned Supreme Committee for Delivery and Legacy’s affirmation that the implementation of all projects related to the 2022 FIFA World Cup are proceeding as per schedule.
Ezdan highlighted the QR75bn package for the private sector and the QCB’s instructions to banks to postpone loan maturities of the private sector with a grace period of up to six months.
Qatar Development Bank (QDB) was also directed to adjourn maturities during the same period.
Ezdan also referred to the scheduled completion of many road projects in Qatar by Ashghal, or the Public Works Authority of Qatar.