March 26, 2020 / 7:20 AM / 15 days ago

BRIEF-Nakheel Pledges 230 Mln Dirhams Financial Support For Customers Amid COVID-19 Outbreak

March 26 (Reuters) - NAKHEEL:

* ANNOUNCED AN AED230 MILLION ECONOMIC RELIEF PACKAGE FOR CUSTOMERS IN THE WAKE OF THE COVID-19 OUTBREAK

* RELIEF PACKAGE AIMS TO HELP REDUCE THE FINANCIAL BURDENS FACED BY BUSINESSES AND INDIVIDUALS DURING THE CURRENT GLOBAL CHALLENGES

* 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

* IS ALSO WAIVING ADMINISTRATION CHARGES ACROSS VARIOUS SERVICES FOR THREE MONTHS

* IS REDUCING DISTRICT COOLING CHARGES BY 10 PER CENT FOR THREE MONTHS FOR COMMERCIAL AND RESIDENTIAL CUSTOMERS

* IS CONTACTING ELIGIBLE BUSINESS PARTNERS WITH DETAILS OF HOW THE STIMULUS PACKAGE WILL SPECIFICALLY APPLY TO THEM

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