KUWAIT CITY, May 5: The CEO of Al-Mabani Company Walid Al-Shariaan disclosed that this closure period has been a good opportunity for Al-Mabani Company to carry out a comprehensive maintenance work and deferred reforms that are difficult to complete in normal times.
Al-Shariaan disclosed that the company will be able to restart the activities of “The Avenues Mall” within two days if a decision is taken to reopen the business again, especially as the operation will be partial and phased.
On the other hand, he affirmed that the board of directors has yet to discuss the issue of waiving the month of May rents for restaurants and cafes in the Avenues, especially as it’s not clear when the crisis would end.
However, he stressed that the company would not take a decision only in its favor, indicating they will be careful in making any decision related to the issue of rents.
He said any such decision will be compatible between their own interests and those of the owners of restaurants, cafes and investors in the Avenues.
It is worth noting that Al-Mabani Company had exempted all restaurants and cafes in the Avenues complex from the rental value due during March and April, in line with the current economic conditions resulting from the spread of the Corona virus. It also gave owners of the remaining commercial activities in the complex a discount estimated at 25 percent of the rental value for the same period, in a step of solidarity with all tenants in the complex.
This is in addition to postponing payments from defaulting owners of small and medium enterprises, while rescheduling their payments over several months