Wasl Asset Management Group has announced a package of incentive measures to support its individual and corporate customers, in response to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and with the follow-up of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler Dubai is Chairman of the Board of Directors of Wasl Asset Management Group, to mitigate the effects of the current situation on various groups of society in Dubai, and to enhance its willingness to deal with all future conditions.

The CEO of Wasl Asset Management Group, Hisham Abdullah Al Qasim, stressed that the conditions in the world require working with a spirit of responsibility as a team, and joining the broad spectrum of initiatives launched by Dubai in this regard, and it was an incentive for the group to show its commitment to be at the forefront of the growing number of institutions and companies Which has shown its solidarity to support the public interest.

And in order to contribute to stimulating the emirate's economy, enhancing societal solidarity and helping its clients to overcome any potential consequences, and contributing to supporting financial liquidity and business continuity, the company has taken decisions to achieve these goals, the most important of which are: postponing the payment of rental fees to commercial and residential real estate tenants for a period of three To six months.

This decision also applies to industrial and investment land tenants, and to sublease rentals, in addition to exempting all of the above categories from late payment and other fines, according to each case.

Al-Qasim added: "Our initiatives that include many packages, a realistic translation of our commitments to our society and support our economy, and attention to the stability and growth of our partners and our customers come from tenants, where their happiness is our top priority."

Wasl stressed that the prevailing conditions require companies to communicate with customers and express cooperation with them to alleviate any pressures or impacts that may result from the repercussions of the temporary situation resulting from the spread of the Corona virus emerging around the world, while the group is closely following developments in the situation, expressing Their willingness to work and coordinate with government agencies to support official initiatives and provide various forms of support to teams working in the field.

The “Wasl” initiative would benefit a wide base of dealers in the emirate, especially as the Wasl Asset Management Group owns a portfolio, which includes 47 thousand units of residential, commercial and retail real estate, and 5,500 industrial plots in various areas of the emirate.

The decision applies to industrial and investment land tenants and to sublease fees.