Singha Estate is aware of the impacts of COVID-19 and has introduced measures to assist its business partners by waiving rent for stores that do not lay off employees or providing a 50% discount on retail space rent across all projects in the “S” group. This initiative aims to alleviate the burden on operators, reduce unemployment among businesses, and collectively navigate through the COVID-19 crisis as effectively as possible.

Following the Bangkok Metropolitan Administration's announcement regarding the temporary closure of venues (Version 2) dated March 21, 2020, particularly concerning point 1, restaurants (allowed to operate only for takeout), Singha Estate, which owns office buildings and retail rental spaces, recognizes the impact this will have on tenants and employees. Therefore, it has implemented a policy to support affected business partners.

 

Mr. Narit Chayaklin, Chief Executive Officer of Singha Estate Public Company Limited or “S” stated that the company is aware and concerned about the evolving situation of the COVID-19 outbreak in Thailand, especially after the government announced the closure of various areas and businesses, including shopping malls, plazas, and markets, until April 12, 2020. The company is committed to standing by its business partners to help navigate through this crisis as best as possible, specifically:

  • Waiving rent for retail stores that do not lay off employees for Singha Complex, Metropolis, and The Lighthouse.
  • Providing a discount of up to 50% on retail space at Sun Plaza, with some stores exempt from rent under the same condition of not laying off employees.

Singha Estate is aware of the challenges faced and is ready to sincerely assist its partners and business allies, standing together to overcome this crisis.