Al Hamra announces economic relief package
The UAE developer will roll out initiatives to elevate the financial burden from COVID-19
Ras Al Khaimah’s Al Hamra has announced an economic relief package to help its business partners, residents and customers. The package was made in line with directives from the UAE government and from Ras Al Khaimah to support businesses throughout the country and to encourage financial stability.
The initiatives include up to three months of rental relief, along with a reduction in cooling consumption charging, deferral of fees, waiver of payment delay penalties and payment due date extensions. Al Hamra has also deployed a team to assess the specific requirement of each business it works with.
Al Hamra group CEO Benoy Kurien said: “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.”