Nakheel Pledges AED230mn Relief Package Including Rental Holidays
Fahad Shabbir (@FahadShabbir) Published March 26, 2020 | 01:15 PM
DUBAI, (UrduPoint / Pakistan Point News / WAM - 26th Mar, 2020) Nakheel announced an AED230 million economic relief package for customers in the wake of the COVID-19 outbreak.
According to a press release issued by the Company Thursday, the economic relief package aims to help reduce the financial burdens faced by businesses and individuals during the current global challenges.
Nakheel’s customers include property owners, retail and hospitality tenants and small business operators. The package includes free rental periods for retail and hospitality partners who operate within the Nakheel Malls portfolio.
This will take effect when the malls, which are currently closed under government directives, reopen. Small retail business owners who lease space at Nakheel’s master communities will also receive a rental holiday.
Nakheel is also waiving administration charges across various services for three months, and, as per government directives, reducing district cooling charges by 10 percent for three months for commercial and residential customers.
Commenting on the announcement, Mohammed Ibrahim Al-Shaibani, Chairman of Nakheel, said, "Every business and individual in Dubai – and across the globe – is affected in some way by Covid-19. As a leading, responsible developer, we must support and work with our loyal customers and business partners who are facing economic challenges during these unprecedented times."
Related Topics
Recent Stories
Senate continues discussion on Presidential address to Joint Sitting of Parliame ..
Masood Khan calls for Pak-US cooperation for regional peace
Interior Minister starts Margalla Trail Patrol for security
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 26 April 2024
Today Gold Rate in Pakistan 26 April 2024
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
3 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
6 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
6 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
6 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
6 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
6 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
6 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
6 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
6 months ago -
SIBF turns spotlight on remarkable contributions of women
6 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
6 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
6 months ago