Ras Al Khaimah-based developer, Al Hamra has created an economic relief package which includes several initiatives to help ease the financial burden of its valued mall tenants, freehold owners, residents and customers, impacted by the COVID-19 outbreak.
The announcement is in line with the UAE Government and Ras Al Khaimah’s objectives to support the economic environment and boost financial stability. The initiatives include up to three months rental relief, reduction in cooling consumption charges, deferral of fees, waiver of payment delay penalties and payment due date extensions.
Dedicated teams have been deployed to assess specific requirements of various businesses and individuals to provide economic relief and support. The tasked force is also reassessing cost-effectiveness of operations in order to pass on the benefit to the end users and customers.
“We have been proud partners in shaping the real estate landscape of Ras Al Khaimah and this pride comes with a responsibility to the Emirate as well as to our partners and consumers who have contributed to our success. This pandemic is reshaping the way we think about community and has made one thing strikingly clear: our interdependence. We are working closely with our stakeholders to ensure that we recover from this period together, stronger and more resilient,” says Benoy Kurien, group CEO of Al Hamra.
“We understand the predicament faced by all and the impact of the Coronavirus outbreak on our economy. During these unprecedented times, we, are more committed than ever to stand firmly by our valued partners and customers. Our initiatives aim to support business continuity by offsetting some of the impact, and to promote the welfare of the community. Our dedicated teams will reach out to our partners in the following days to understand and discuss their requirements and implement effective measures. We will continue to support the government, our customers and partners in all ways possible to overcome this challenging situation together,” he adds.
Al Hamra group’s shopping mall portfolio includes Manar and Al Hamra Malls, along with hospitality concepts Waldorf Astoria Ras Al Khaimah and Ritz Carlton Al Hamra Beach as well a master planned community of Al Hamra Village.
Watsons to open 20 new stores in the GCC
In 2020, global health & beauty retailer AS Watson Group signed its
April 29, 2024 | By Rupkatha B / 
The Ministry of Industry and Advanced Technology (MoIAT) in cooperation with Lulu
What does it take to sustain profitable growth in the post-IPO phase?
Mahalle began its operations in 2022 as an “Authentic Turkish Grocery in
“Retail is a people’s business. When building a retail brand or the
From being one of the first retailers in Dubai to ban single-use
For starters, Rabbit is a growing e-commerce grocery platform in Egypt always
In 2024 grocery retail major Choithrams has achieved several milestones underscoring its
Industry pioneers are embracing a comprehensive strategy that integrates consumer insights, digital
The regional grocery retail market is evolving fast keeping pace with constantly
From ethical and local sourcing to adopting cutting-edge technologies to curb food
/ 
The Dubai Duty Free (DDF) has recorded sales of $1.94 billion up
In an era where digital transformation is pivotal, shopping malls are not
This panel discussion at MRF 2024 explored the evolution of retail spaces,
An exclusive piece contributed By Oliver Morgan, Partner, Real Estate Development &
In the bustling retail environments, where shopping malls are not just places
In what comes as a significant announcement, Middle East based eyewear majors
Emirati Gen Z women are seeking collaborative, culturally diverse and creatively enriching
In today’s fast-paced retail environment, shopping malls are continually searching for innovative
Times Square Center, located in the vibrant heart of Dubai, stands as
Emaar Properties has announced a mega expansion of Dubai Mall, which will
Previous Article
