Sultan bin Ali Al Owais Real Estate waives rent for tenants
The real estate developer has offered a one-and-a-half month rent waiver to its existing tenants due to COVID-19
UAE-based real estate developer and asset management firm, Sultan bin Ali Al Owais, has offered a 45-day rent waiver to help its tenants overcome the adverse economic effects of the coronavirus outbreak (COVID-19).
The company – which specifically develops properties to rent, and owns and manages a portfolio of more than 3,000 properties across the UAE – is known for its emphasis on its long-term rental ethos and retention of residential tenants exceeding 20 years.
Commenting on the decision, the chief executive officer of Sultan Bin Ali al Owais Real Estate, Haleema Al Owais, said: “Tenants that have been with us for decades are practically family for us.”
Al Owais added: “While battling the spread of COVID-19, it is the responsibility of every UAE resident to maintain social distancing and other measures. Also, we want to make sure that our tenants have one less thing to worry about during these difficult times.”
The real estate firm operates as a conglomerate with all functions of rental real estate such as facilities management and security integrated under its own umbrella through its offices in Dubai and Sharjah.