The Coronavirus (COVID-19) outbreak has prompted companies such as Aldar Properties, Dubai Holding, and Meraas to release billions and millions worth of packages aimed at supporting residents, tenants and existing business partners and customers across their portfolio of companies.
Aldar Properties, which is Abu Dhabi’s leading property developer, has allotted Dh100 million worth of programmes to support its residents, tenants, customers, and partners.
The developer’s initiatives also include a Dh4 billion allocation towards payment of supply chain commitments in this year.
In a press statement released on its website, Mohamed Khalifa Al Mubarak, Chairman of Aldar, said: “We commend and are grateful for our wise leadership for its prompt and decisive action to limit the impact of unprecedented market conditions on the community and businesses. The latest initiatives launched by the Abu Dhabi Executive Council, and the Dh100 billion support package launched by the UAE Central Bank, will strengthen the resilience of our economy. The programmes launched by Aldar form part of our long-term sustainable approach towards our economy and stakeholders.”
Meanwhile, global investment holding company Dubai Holding and Meraas, Dubai’s leading developer and operator of lifestyle destinations, have also announced an AED1 billion-plus package relief package that will support their existing business partners and customers, impacted by the COVID-19 outbreak.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding and Meraas, said: “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.”
Both companies have created task forces to oversee requirements and deal with them on a case-by-case basis.