Ras Al Khaimah-based developer Al Hamra, has announced an economic relief package to help its mall tenants, freehold owners, residents and customers impacted by the coronavirus outbreak.
The announcement is in line with the UAE Government and Ras Al Khaimah’s objectives to support the economic environment and boost financial stability, Al Hamra said in a statement.
The total value of stimulus packages introduced by the UAE since the coronavirus outbreak has amounted to 126.5 billion UAE dirhams.
The country confirmed 41 new cases of coronavirus infections on Monday, taking the total number of cases to 611.
Al Hamra’s initiatives include up to three months rental relief, a reduction in cooling consumption charges, deferral of fees, waiver of penalties on payment delays and payment due date extensions.
The RAK developer announced that dedicated teams have been deployed to assess the specific requirements of the various businesses and individuals.
“This pandemic is reshaping the way we think about community and has made one thing strikingly clear: our interdependence. We are working closely with our stakeholders to ensure that we recover from this period together, stronger and more resilient,” Benoy Kurien, Group CEO of Al Hamra, said.
“Our initiatives aim to support business continuity by offsetting some of the impact, and to promote the welfare of the community,” Kurien said.
(Writing by Gerard Aoun; editing by Seban Scaria)
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