Due to the COVID-19 pandemic, Al-Futtaim Group has announced remarkable assistance to facilitate the financial burden of its retail tenants by offering a fund of AED 100 million to help them in their business disturbance and slowdown. This fund aims to cover up to three months’ rent relief for the tenants to help in their business recovery in the UAE.
A taskforce has been established to investigate how Al-Futtaim could help its tenants since COVID-19 obliged most of the residents of the UAE to stay most of the time at their home. This team takes effective developing measures to help the affected tenants through the last week.
Group Director of Al-Futtaim Malls has commented that the businesses face difficulties in these unaccustomed times. This, unfortunately, has a slight negative impact on their current business and economy. But as their business is deeply attached to the UAE, their commitment is to play an active role and finding new ways to support their tenants while the malls remain open. They hope to facilitate the development of business continuity in these difficult times.
Also, they added that the tenants are important to them and even more in this challenging time. Additionally, they have to provide guidance and assistance to them in this time of need. Mall teams will contact all tenants for discussing their necessities and process for relief.
The portfolio of Al-Futtaim Group’s mall in the UAE consists of Dubai Festival City Mall and the new Festival Plaza mall.