Dubai’s Al Zarooni offers three-month rent waiver worth $6.8m

The rental relief offered to tenants at the Mercato and Town Centre Jumeirah malls aims to support retailers

Dubai’s Al Zarooni offers three-month rent waiver worth $6.8m to mall tenants at Mercato Mall, Town Centre Jumeirah [representative image]
CW archives
Dubai’s Al Zarooni offers three-month rent waiver worth $6.8m to mall tenants at Mercato Mall, Town Centre Jumeirah [representative image]

Dubai’s Al Zarooni Group has offered to waive up to three months’ rent, worth $6.8m (AED25m), to eligible tenants at two of its malls – Mercato and Town Centre Jumeirah – as part of a relief programme aimed at easing the financial burden faced by retailers affected by the coronavirus outbreak (COVID-19).

The rental relief comes within the framework of ongoing assistance being offered by leading government and private sector entities in Dubai to ease the financial pressures caused by the economic fallout of the COVID-19 outbreak.

In line with government directives, Mercato and Town Centre Jumeirah will close for two weeks from 25 March, according to the state-run Dubai Media Office.

However, providers of essential services such as supermarkets and pharmacies will remain open while F&B outlets will only operate a delivery service.

The chairman of the Al Zarooni Group, Abdul Rahim Al Zarooni, has also donated $2.72m (AED10m) to the healthcare sector to combat the novel coronavirus.

Al Zarooni said: “The retail sector is facing an unprecedented situation as a result of the COVID-19 pandemic, and we feel that it’s our responsibility as a partner of the government to support our tenants experiencing financial hardships.”

“During these challenging times, Al Zarooni Group will continue to stand by its partners so that their businesses are able to recover fast once the pandemic is over.  We will also continue to support the overall relief efforts and initiatives of the government to safeguard the retail sector, a key pillar of Dubai’s economy.”

Most popular

Awards

Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the

Conferences

CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 765
Jun 29, 2020