CDL retail tenants get full rental rebates in April, 50% in May

Singapore

CITY Developments Limited (CDL), one of Singapore's largest commercial landlords, on Monday said it is committing more than S$17 million in property tax and rental rebates to help its office and retail tenants cope with the novel coronavirus outbreak.

The amount includes the full quantum of the government's enhanced property tax rebates, announced last month under the Resilience Budget, to be passed on to CDL's tenants. These enhanced rebates comprise the 100 per cent property tax rebate for qualifying commercial properties and 30 per cent for businesses in other non-residential properties such as offices and industrial properties.