Leading UAE conglomerate Al-Futtaim Group announces AED100M worth of funds to provide financial support for its mall tenants across UAE.
Dubai-based Al-Futtaim Group has announced a new fund to help its mall tenants in Dubai Festival City and Festival Plaza, easing the financial burden in the wake of Covid-19.
The move reflects the patriotic spirit of the private sector in Dubai, and the key role played by national firms in supporting the UAE economy. The fund, which will cover up to three months’ rent relief for eligible tenants across the Al-Futtaim Group’s malls, seeks to aid the recovery of their businesses in the UAE.
Omar Abdulla Al Futtaim, Vice-Chairman of Al-Futtaim Group said: “Strong collaboration between various stakeholders is critical to navigate the challenges that have arisen in the current situation. The UAE and Dubai will remain strong in the face of these challenges no matter how difficult they are,” he added. “These measures are part of the Group’s responsibility towards the UAE and its economy as it is a partner in its journey of success locally and internationally,” he stressed.
