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Nakheel announces Dh230m relief package for its tenants

Waheed Abbas/Dubai
Filed on March 26, 2020
The economic relief package includes free rental periods for retail and hospitality partners who operate within the Nakheel Malls portfolio. - Supplied photo

Nakheel is contacting eligible business partners with details of how the stimulus package will specifically apply to them.

Master developer Nakheel on Thursday announced Dh230 million economic relief package to offset impact of Covid-19 outbreak.

The economic relief package includes free rental periods for retail and hospitality partners who operate within the Nakheel Malls portfolio.

This will take effect when the malls, which are currently closed under government directives, reopen, the master developer said in a statement.

"Small retail business owners who lease space at Nakheel's master communities will also receive a rental holiday. Nakheel is also waiving administration charges across various services for three months, and, as per government directives, reducing district cooling charges by 10 per cent for three months for commercial and residential customers," it said in a statement on Thursday.

"Every business and individual in Dubai - and across the globe - is affected in some way by Covid-19. As a leading, responsible developer, we must support and work with our loyal customers and business partners who are facing economic challenges during these unprecedented times," said Mohammed Ibrahim Al Shaibani, chairman of Nakheel.

Nakheel is contacting eligible business partners with details of how the stimulus package will specifically apply to them.

A number of other major including its Dubai Holding and Meraas have announced massive relief packages running into billions of dirhams. - waheedabbas@khaleejtimes.com


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