- July 16, 2020
- Posted by: Aswani
- Categories: Dubai, News
The Dubai Developments Group extended a 3-6 months rental rebate to small firms and entrepreneurs amidst the pandemic. The relief package is worth Dh200 million and was an initiative by Sheikh Hamdan to support the entrepreneurial and real estate sectors to cope up with the economic instability caused by the corona virus.
The relief package will exempt the tenants from rents for periods ranging from 3-6 months as per the type of their business activities. This initiative will benefit more than 1500 business enterprises and will also help over 10,000 employees and their families to attain financial stability. The exemption focuses on enhancing the investment capacities and financial solidity of the businesses.
The initiative has also been beneficial to the real estate sector in sustaining its growth momentum and by maintaining its investment attractiveness. This drive will help the enterprises to confront the crisis of COVID-19 and will gradually lead to the economic stability of the country as well.