Search DubaiPRNetwork.com

Dubai and UAE

Sunday, March 22, 2020/ Editor

Home >> Real Estate and Construction

Al-Futtaim Provides up to Three Months' Rent Free Support for its Mall Tenants worth AED 100m

Home >> Real Estate and Construction

Relief will alleviate financial pressure for tenants across its malls in the UAE – Dubai Festival City Mall and Festival Plaza

 

Dubai, United Arab Emirates, 22 March 2020:  Al-Futtaim Group today announced that it will be making a substantial contribution  to ease the financial burden of its retail tenants by offering a fund of AED 100 million to help its retailers affected by business disruption and slowdown  due to the COVID-19 pandemic. The fund will cover up to three months’ rent relief for eligible tenants across its malls in an effort to aid the recovery of their businesses in the UAE.  

Over the last week, a taskforce has been established to examine how Al-Futtaim could support its retail tenants as COVID-19 forced most residents of the UAE to spend more time at home. The team was tasked with quickly developing effective measures to help the affected tenants. 

Timothy Earnest, Group Director, Al-Futtaim Malls commented: ‘In these unprecedented times, we understand the difficulties faced by the businesses and the impact this current situation is having on our economy. As a business deeply attached to the wellbeing of the UAE, we have a role to play and have committed ourselves to finding ways to support while the malls remain open. We hope this contribution will help pave way for business continuity in this difficult environment.” 

He added: “Our tenants are of utmost importance to us always, but even more so in this challenging time. It is our duty to provide guidance and assistance to them in this time of need. All tenants will be contacted in the coming days by dedicated mall teams to discuss their individual requirements and process for relief.”

Al-Futtaim Group’s mall portfolio in the UAE comprises of Dubai Festival City Mall and the newly opened Festival Plaza mall.

 

Share


Previous in Real Estate and Construction

Next in Real Estate and Construction


Home >> Real Estate and Construction Section

Latest Press Release

NHRI Organizes Ninth Knowledge Lab on Workers' Rights

Mercato Wows Visitors with Circus Spectacles, Iconic Slide, and Weekly Cash Prizes This DSS!

RTA Calls on Motorists to Perform Routine Vehicle Checks and Servicing

Dubai Municipality launches ‘Future Talents' programme to train 200 students in future skills

Cigna Healthcare Becomes First Health Partner for UAE Startup Ecosystem Ignyte

Tomorrow Takes Flight: The Emirates Group showcases collaborative sustainability initiatives in avia ...

FDF hosts dialogue forum to showcase services in Al Khatim

Dubai Open Tennis Academies Championship Concludes with Resounding Success

Sharjah Chamber strengthens investment cooperation with Africa during first-ever trade mission to Ma ...

Khalifa Fund for Enterprise Development launches ‘Future Entrepreneur' program to enhance entreprene ...

Dubai Culture and National Youth Orchestra of Dubai Put UAE's Creative Youth on World Stage at Carne ...

UAEREP's 12th Rain Enhancement Hub Webinar Session Explores Eco-Friendly Cloud Seeding Technologies

Ajman Department of Tourism Development launches second edition of ‘Self-Exploration through Tourism ...

DSS 2025 Unveils AED 20 Million In Prizes With Citywide Raffles and Retail Promotions

Emirates SkyCargo doubles down on providing exceptional customer experience

The Emirates A350 begins regular operations to Muscat

Zoho Strengthens Support for UAE's Tech Sector By Partnering with DART

Dubai Launches Landmark Initiative Further Enabling First-Time Homeownership

SalamAir Releases 2nd Quarter (Q2) On-Time Performance Data

'School of Life' Brings a Summer of Enriching Experiences to Public Libraries