Rent holiday: DMCC offers range of discounts and waivers to companies

DMCC extended a 33% discount on a three-year licence renewal (or one year for free), a 25% discount on two-year renewal (or six months for free)

  
DMCC Authority welcomes 805 new companies in first half of 2020 and strengthens ties with China and tech. Image courtesy Dubai Media Office Twitter handle.

DMCC Authority welcomes 805 new companies in first half of 2020 and strengthens ties with China and tech. Image courtesy Dubai Media Office Twitter handle.

Dubai – Mubasher: The Dubai Multi Commodities Centre (DMCC) on Tuesday announced the extension of its business support package until the end of August.

DMCC’s largest ever commercial incentive, originally launched in April, was designed to help new and existing businesses navigate the current economic challenges, according to a statement.

The new support measures, applicable to DMCC’s current member companies, comprise of a range of discounts and waivers, such as a two-month rent holiday for those holding a flexi desk licence and tenants at DMCC Business Centre or monthly or quarterly instalments with no discount.

In addition, DMCC extended a 33% discount on a three-year licence renewal (or one year for free), a 25% discount on two-year renewal (or six months for free), and a 20% discount on one-year licence renewal.

DMCC also collaborated with Emirates NBD to allow new and current member companies' cardholders to convert payments into flexible and interest-free instalments.

Sheikh Hamdan bin Mohammed Al Maktoum, Crown Prince of Dubai, said that free zones contribute AED 135 billion, or 33%, to the Dubai’s gross domestic product (GDP).

Source: Mubasher

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