Singapore lays out further details of rent-affecting COVID-19 bill

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Singapore has laid out further details of a COVID-19-related bill that spells out the obligations of landlords, including REITs, towards tenants that are unable to fulfill their rents.

In April 2020, the Singapore legislature introduced the COVID-19 (Temporary Measures) Bill, as part of the government’s move to assist small and medium-sized enterprises (SMEs) that have been affected by COVID-19.

Under the proposed bill, distressed tenants are to be exempted from their rent obligations with their respective landlords, including REITs, for up to six months.

Related: Singapore retail REITs brace for impact of COVID-19 measures bill


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