Al-Futtaim Group, the UAE-based conglomerate has now pledged a Dhs100m fund to offer up to three months’ worth of rental relief to eligible tennants across its malls, it announced on Thursday, March 19. The move, which will help facilitate its retail tenants, is an effort to stem the fallout of the Covid-19 infection that has now spread to over 165 countries worldwide and slowed down multiple industries.
“Our tenants are of utmost importance to us always, but even more so in this challenging time. It is our duty to provide guidance and assistance to them in this time of need. All tenants will be contacted in the coming days by dedicated mall teams to discuss their individual requirements and process for relief,” he added.
Al-Futtaim’s mall portfolio in the UAE consists of Dubai Festival City Mall and the Festival Plaza mall. Headquartered in Dubai, Al-Futtaim is structured into four operating divisions – automotive, financial services, real estate and retail. It employs more than 42,000 across 29 countries in the Middle East, Asia and Africa, the statement said.