Dubai Landlords Give Free Rent During Epidemic

BEIJING, CHINA / ACCESSWIRE / April 17, 2020 / When it comes to Dubai, everyone’s first feeling are rich people, crazy buildings, very eye-catching cars, Lamborghini as police cars… A lot of rich people all around the world live in Dubai.

Now corona virus is spreading all over the world. The virus also strokes this luxury city. Dubai have 4521 cases till 14 April 2020 and the city is into a tough lockdown period. Business, shopping malls are all closed during this time. Dubai is expensive city, the rent is also among the highest in the world. The rent becomes their primary economic burden. How to solve this problem?

Nakheel,the developer of palm Jumeirah island(eighth wonder of the world) took the lead in making practical action, they announce 1-3 months rent reduction for tenants.

Al-Futtaim group also announced a three-month rent reduction for tenants, Al-Futtaim group’s Emirates Mall has the world’s largest indoor ski resort,6 large shopping centers, mainly focus on high luxury brands such as LV, Hermes, Dior, etc.

Wasl properties, one of the largest state-owned property developers in the UAE, also announced a delay in lease payments, and distributed to tenants in the Naif and Al Ras areas of Dubai anti epidemic items such as disinfectants, cleaning materials and gloves.

Dubai Free Zone authority has directly announced that tenants can defer rent payments for up to six months.

Not only big companies but also rich businessman are helping.

On April 1, Dubai legendary Entrepreneur — Mr. Liao Wang, announced to exempt the tenant from rent, two days before Nakheel.He also donated 1 million RMB to China. As the Chairman of Dubai Atomic Properties, he has real estate agency and investment business and purchased hundreds of properties in Dubai. He is the founder of Atoshi, a star blockchain and crypto project, with 4 million users, surpassed other projects such as TRON ,NEO,QUANTUM on user scale… and is still growing rapidly. Atoshi Apps have shopping, ticket buyinghotel booking,,online gaming and so on.

The epidemic of COVID-19 in North America and Europe become more serious now.So what did other large enterprises and tycoons do during this time? I believe that too many people are looking forward to rent reduction. As a tenant, I wish I am in Dubai now.

Media Contact
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SOURCE: Atoshi

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