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Covid-19 Economy Impact

Nakheel announces $62m economic relief package

Nakheel
Nakheel announced an AED230 million economic relief package for customers in the wake of the Covid-19 outbreak.

The Dubai based master developer, has announced a $62.6 million economic relief package for customers in the wake of the COVID-19 outbreak, in line with the economic stimulus launched by the government. The relief package aims to help reduce the financial burdens faced by businesses and individuals during the current global challenges.

Nakheel said that its economic relief package aims to help reduce the financial burdens faced by businesses and individuals during the current global challenges. Its customers include property owners, retail and hospitality tenants and small business operators. The package includes free rental periods for retail and hospitality partners who operate within the Nakheel Malls portfolio.

This will take effect when the malls, which are currently closed under government directives, reopen. Small retail business owners who lease space at Nakheel’s master communities will also receive a rental holiday.

Nakheel is also waiving administration charges across various services for three months, and, as per government directives, reducing district cooling charges by 10 percent for three months for commercial and residential customers.

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