Retail and residential clients to benefit from package.
Published: Tue 17 Mar 2020, 12:47 PM
Updated: Tue 17 Mar 2020, 2:56 PM
Dubai Holding, a global investment holding company, and Meraas, Dubai's premier developer and operator of lifestyle destinations, announced on Tuesday the launch of an economic relief package aimed at supporting existing business partners and customers across their portfolio of companies.
The economic relief package which amounts to more than Dh1 billion is designed to partially alleviate the burdens encumbered by some of the businesses or individuals within the Dubai Holding and Meraas ecosystem, who have been impacted by the outbreak of Covid-19. (Coronavirus outbreak: All the latest updates)
"We have directed our teams at Dubai Holding and Meraas to ensure that we provide relief to those impacted customers whether they are companies or individuals by the outbreak of Covid-19. We believe that it is our social and economic responsibility to stand with affected partners during such unprecedented times," said Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding and Meraas.
Task forces have been established at both Dubai Holding and Meraas to look at the specific requirements on a case-by-case basis to ensure that sufficient economic relief and support is made available.
Dubai Holding subsidiaries include Jumeirah Group, Dubai Properties, Tecom Group, Dubai Asset Management, Dubai and Arab Media Group.
Meraas has assets in the real estate, tourism, hospitality, F&B, retail, leisure and entertainment, technology, maritime, and healthcare sectors.
The company's portfolio comprises over 80 million square feet of total developed land, more than 5000+ homes, 1400+ retail units, and 15 landmark destinations, including Boxpark, Al Seef, Bluewaters, City Walk, Dubai Harbour, Jumeira Bay, Kite Beach, La Mer, Last Exit, Pearl Jumeira, The Beach and The Outlet Village.
-waheedabbas@khaleejtimes.com
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