In light of the persistence of some real estate managers to collect the rents, or the payments and installments due on the tenants under the current circumstances, the real estate expert Walid Al Zarouni proposes to the owners, real estate owners and real estate development companies operating in the United Arab Emirates to launch the initiative (# owners_good) to support the tenants And help them overcome these emergency situations resulting from the crisis of the emerging virus Corona (Covid-19).
This initiative (#ownership of goodness) aims to directly support tenants by exempting them from rents for a period of no less than 3 months renewable, taking into account their current conditions resulting from the consequences of the spread of the Corona virus, and the initiative also encourages real estate owners to take a humanitarian approach to tenants at this time From the crisis.
Walid Al-Zarouni, who heads the "W Capital" Real Estate Brokerage Company, said that the landlords initiative to exempt from the payment of rent for commercial areas and units for a period of three or six months that reflects the extent of their social responsibility in supporting the national economy and investors, especially since this period requires each of us to bear some It is a societal responsibility for his own benefit and that of the community, stressing the importance of the mitigation decision being an exemption, not a delay in collecting rents for a period of at least three months, renewable according to developments in the conditions provided they are proven to be harmed, and this is not only for commercial real estate but also residential.
He added that the initiative provides actual solutions that will pay off and will not harm the landlord or the tenant, but rather benefit the two parties, as the tenant exemption from 3 months helps in the first place the owner, because the tenant’s exit from the real estate unit, especially in commercial real estate, will cost the landlord twice the cost of the proposed exemption, which is three For months, the landlord will not be able to find a replacement for it at the same rental price, and the unit will remain vacant for a long time under these conditions.
He added that this initiative enhances the relationship of investors and beneficiaries with the owners in a manner that supports the achievement of the common interest and carries all the burdens imposed by the exceptional circumstances in parallel, pointing out that after the end of the crisis and the return of things to normal, the owners can negotiate with the tenants a slight increase in the rental value.
And Walid Al-Zarouni said, that adopting measures to support tenants by real estate owners will enhance the strategic partnership that I have developed with them over the past years in addition to their emphasis on adopting national initiatives that will support the private sector and investors.
He added that the "Angel of Goodness" initiative coincides with the blessed month of Ramadan, as it is a month of generosity and generosity, benevolence and benevolence, a month of communication and solidarity, which makes the initiative receive a wide and wide resonance in the hearts of owners, real estate owners and real estate development companies operating in the state.
Walid Al-Zarouni praised the fact that some owners exempted tenants from paying the rent for several months, out of their self-motivated and voluntary awareness that translates their sense of social responsibility.
Al-Zarouni also praised the UAE Red Crescent initiative that urges lessors to reduce or postpone the rent, and many owners have responded to this initiative.
The UAE Red Crescent Authority recently launched the “Anto Among Your Families” initiative to ease the burdens of living, such as renting housing in the UAE from housing tenants in the current circumstances, and the initiative is centered around three options where the Red Crescent calls on owners of residential real estate to exempt tenants from paying rent or reduce its value Or postpone the rent payment.
Walid Al-Zarouni expressed his hope that the "Good Angel" initiative will receive media support from the various national media channels (paper and audio-visual media) as well as social media.