Retail giant Majid Al Futtaim, who operates 27 shopping malls across the Middle East and North Africa region has said it will offer rent relief for retailers during lockdown.
Dubai-based retail giant Majid Al Futtaim, which operates Mall of the Emirates, has waived rent fees for its tenants for the duration of the Covid-19 government mandated store closures. In a statement to Arabian Business, it said it is keen to help retailers retain working capital while the shopping malls are closed.
“At Majid Al Futtaim, we are working closely with our shopping mall tenants to ensure that they are in a strong position to provide our customers with unforgettable shopping experiences once our malls reopen,” a spokesperson for the group said. “This will only be possible if we help our tenants to reduce costs and preserve working capital while the malls remain temporarily closed. We have made a commitment to them that they will not pay rent during the mandated closure of their stores.”
Majid Al Futtaim operates 27 shopping malls across the Middle East and North Africa region, including the City Centre brand. It also holds the exclusive franchise rights to Carrefour in over 31 countries across MENA and Asia.
