The West End Development Corporation (Wedco) has deferred rents for a second month to businesses in Dockyard due to the global COVID-19 pandemic and the subsequent cancellation of more than 70 cruise ships to Bermuda this year.
Rent deferrals for commercial tenants was implemented in April and extended for the month of May.
Wedco’s General Manager Andrew Dias said it is all part of easing the strain of the recent islandwide lockdown for its tenants.
“Additionally, we ask each tenant to communicate with us, provide information which then could be used to assess their position and afford both of us the ability to work together and tailor a solution.
“This approach has been extended to every commercial tenant,” he said.
Cruise ship cancellations during the 2020 tourism season will result in the loss of an estimated 200,000 cruise ship passengers on our shores this summer.
The majority of cruise ships berth at Kings Wharf and Heritage Wharf in Dockyard.