COVID-19: Al Hamra reduces rents, cooling bills, extends payment dates

CEO, Benoy Kurien, says initiatives "support business continuity by offsetting some of the impact" of the pandemic

The group is the developer of Al Hamra Village in Ras Al Khaimah.
The group is the developer of Al Hamra Village in Ras Al Khaimah.

Ras Al Khaimah-based real estate developer, Al Hamra, has rolled out an economic relief package in light of the coronavirus (COVID-19) pandemic for its mall tenants, owners, as well as residents.

The developer said that the announcement has been made in line with the UAE Government and Ras Al Khaimah’s objectives to support the economic environment and boost financial stability.

As part of the economic relief package, Al Hamra will reduce up to three months rents, extend the payment of fees and payment due date extensions, and waive off penalties on payment delays. The company will also reduce cooling bills.

Speaking about the initiative, chief executive officer of Al Hamra, Benoy Kurien, said: “This pandemic is reshaping the way we think about community and has made one thing strikingly clear: our interdependence.”

“We understand the predicament faced by all and the impact of the coronavirus outbreak on our economy.”

Kurien added that the company’s initiatives aim “to support business continuity by offsetting some of the impact, and to promote the welfare of the community”.

Al Hamra projects in the UAE include Al Hamra Village, Waldorf Astoria Ras Al Khaimah, Ritz Carlton Al Hamra Beach, Manar Mall, and Al Hamra Mall.

Most popular


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


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