Measures include deferral of lease payments for commercial
and residential units by 3 - 6 months
In response to the directives of Vice President and Prime
Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid
Al Maktoum and the follow up of Deputy Ruler of Dubai and Chairman of wasl
Asset Management Group His Highness Sheikh Maktoum bin Mohammed bin Rashid Al
Maktoum on extending assistance to all segments of society in dealing with
challenges posed by the current situation, wasl Asset Management has announced
a series of measures to support its individual and corporate customers.
Hesham Al Qassim, CEO of wasl Asset Management,
said overcoming the current situation requires strong collaboration between
various stakeholders and a commitment to supporting the initiatives launched by
Dubai. As part of this commitment, the Group has joined a growing number of
companies showing support for measures aimed at assisting the business sector
and the public.
The Group has taken a number of decisions to ease the financial
pressures on its customers including deferral of lease payments for commercial
and residential units by three to six months.
Tenants of industrial and investment land plots, as well as
sub-lease allowances will also benefit from the decision. Payment delay fines
and other fines will be waived on a case by case basis.
Al Qassim said the measures respond to the directives of
His Highness Sheikh Mohammed bin Rashid Al Maktoum and his call to companies
and establishments to fulfill their social responsibilities during this
critical period. “The steps we have announced reflect our commitment to
ensuring the welfare of our community and supporting our economy. We place the
highest priority on helping enhance the stability and growth of our partners and
tenants. We are keen to provide them with all the assistance necessary to
maintain their operations and ensure the stability of the business environment
so that Dubai continues to be the world’s best place to live and work,” he
said.
He further said companies should engage with their
customers in the current situation, and work with them to ease the pressures
and challenges they face due to the COVID-19 outbreak. The Group, which is
closely following the situation as it develops, reiterated its commitment to
support all government initiatives and its teams working to implement measures
against COVID-19.
wasl’s initiative is set to brings significant relief to a
wide range of its customers. The company manages a portfolio of 47,000
residential and retail units and well as 5,500 industrial land plots across
Dubai. The company’s operations span various sectors: from residential and
commercial properties to industrial plots of land, and from leisure and
entertainment to hotels and serviced apartments.