From April to June 2020, retailers of all kinds located in Gate A Avenue, Gate Village and Gate District will not be required to pay basic rent.
The Dubai International Financial Centre (DIFC) has announced a new support package for its business partners amid the Covid-19 pandemic, giving them a three-month rent-free period on their base rent, it has been announced.
“Dubai is committed to supporting businesses who are facing challenges the fight against Covid-19,” said Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of DIFC. “Supporting individuals and businesses encountering difficulties during times of uncertainty has always been part of Dubai’s and the UAE’s humanitarian ethos.”
DIFC governor Essa Kazim said, “Waiving basic rental fees for retailers will secure livelihoods and enable outlets to once again contribute to one of Dubai’s primary shopping destinations with ease and flexibility as markets start to rebalance. Ultimately, we have made it a priority to extend a helping hand to our retail clients and dynamic business community. We will continue to persevere together and safeguard Dubai’s economic future.”
DIFC has also announced a number of other measures to support businesses during the pandemic, including a waiver of annual licensing fees on registrations during the next three months, a 10 per cent discount on renewal fees and deferred payments on all properties owned by DIFC Investments for a three-month period.
