Dubai’s Al Zarooni Group announces three-month rent waiver worth AED 25 million for mall tenants
Rental relief for tenants at Mercato and Town Centre Jumeirah is part of support offered to retailers affected by COVID-19 outbreak
Al Zarooni Group has announced it will waive up to three months’ rent for eligible tenants at its two malls, Mercato and Town Centre Jumeirah, as part of a relief programme aimed at easing the financial burdens faced by retailers affected by the global COVID-19 pandemic.
The rental relief worth AED25 million comes within the framework of ongoing assistance being offered by leading government and private sector entities in Dubai to help businesses ease the financial pressures on them in the current environment caused by the COVID-19 outbreak.
Abdul Rahim Al Zarooni, Chairman of Al Zarooni Group, commented: “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.”
In accordance with government directives, Mercato and Town Centre Jumeirah will close for two weeks from 25 March. However, providers of essential services like supermarkets and pharmacies will remain open while F & B outlets will only operate a delivery service,
Earlier, Abdul Rahim Al Zarooni had announced a donation of AED10 million to the healthcare sector to support their efforts to combat the novel coronavirus.