Economic incentives holds key to meet the challenges faced by landlords and tenants and all commercial activities in the wake of the COVID-19 pandemic situation.

These issues were discussed during the virtual meeting of the Small and Medium Enterprises Committee of the Oman Chamber of Commerce and Industry, in cooperation with the Real Estate Development and Contracting Committee, which was held to identify challenges, regulations and proposals for property owners and tenants

The workshop was attended by associations and institutions related to the real estate sector, including those from Majlis A’ Shura Council, Muscat Municipality, the Oman Real Estate Association, members of the two committees in the Chamber, and business owners.

The meeting reviewed the challenges facing business owners and ways to support them by reducing their burden in terms of rents.

It touched upon the need to distinguish the issues faced landlords from the difficulties faced between tenants, in addition to the incentives provided to both groups. The workshop sought to come up with clear and practical solutions and tools to counter the negative impacts in the real estate sector.

The meeting developed comprehensive recommendations for both real estate owners and tenants, the first of which was about setting criteria for identifying various segments of the landlords, which will be implemented while granting incentives to this category.

The various types of landlords include individuals, institutions, commercial centers and malls, government, or endowments, as well as those in residential, commercial, industrial, tourism, agricultural, and other sectors that the impacted by the precautionary measures of the Supreme Committee.

In the coming days, OCCI will prepare an integrated report of proposals and solutions that will be submitted to the Supreme Committee on COVID-19.

It may be noted that several businesses, including barbershops and beauty parlours and restaurants (only take-outs allowed), are still not allowed to resume activities, which mean nearly five months of little or no income.