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Sharjah offers rent relief for shops at 2 markets

 

DUBAI – Shop owners in two Sharjah markets will not pay rent for up to three months after the Sharjah Asset Management announced it was waiving rents in response to the economic effects of the new coronavirus or Covid-19.

According to the Sharjah Asset Management, the Sharjah Government’s investment arm, the decision covers all tenants in Haraj and Jubil markets.

The announcement follows a similar move by the Al Futtaim Group for its mall tenants in Dubai Festival City Mall, Festival Plaza mall and City Centre malls across the UAE.

Al Futtaim Group announced it was offering a Dh100 million fund to help its retailers affected by the business slowdown due to the coronavirus pandemic.

The fund will cover up to three months’ rent relief for eligible tenants across its malls. ICA/Expat Media


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