Moscow authorities plan to allocate 15.3 billion rubles as grants to owners of commercial real estate, with approximately 6,500 companies believed to be eligible for support. The metropolitan government has already approved the procedure for the payment of grants. Owners and tenants of commercial real estate will be able to compensate property payments for trade, catering, and household services from March 1 until the last day of the month during which the work restrictions ended. Hotel owners will be able to offset payments for the second quarter of 2020.
“A grant in the amount of 100 percent of the amount of property tax, land tax, land rent will be paid in respect of the leased space, provided that all tenants reduce their rental rates by at least 50 percent of the initial rates ,” said Deputy Mayor Vladimir Efimov
