The Dubai International Financial Center has announced the launch of a new package to support retailers and retailers within the center, which includes an exemption from the value of the basic rent for a period of three months, giving them financial flexibility, within the framework of the efforts exerted by the Dubai government under the guidance of good leadership to find various guarantees that allow Business sectors most affected by the repercussions of the emerging virus Corona, from carrying out their work and maintaining their sustainability in these exceptional times.

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Chairman of the Dubai International Financial Center, confirmed that the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God bless him, provides for all possible support to the sector Business with all its components, especially for small and medium-sized companies that may be most affected at this stage by the economic implications associated with the current global challenge of the spread of the new Corona virus, as the guidance of good leadership reflects the extent of permanent and comprehensive commitment that distinguishes the UAE and Dubai towards its partners. In the private sector and under various circumstances.

His Highness said: "The partnership that brings us together in the business sector in the diversity of sizes and specialties of its components, we had to stand by our partners at all times and in various situations, to maintain the sustainability of the joint success march in which we go together to achieve our ambitious strategic goals, and what we have announced of supportive measures It comes in the context of the efforts of the Dubai government to provide various possible support to institutions and companies in order to alleviate the financial pressures they may face at the present time, as a result of the impact of the global economic movement as a result of the pandemic that international efforts are joining today to address, and with what this appointed He tended to return the success indicator to its right direction after the crisis ended soon, God willing.

These initiatives are in line with a series of incentive measures launched by the Dubai International Financial Center in the light of the economic stimulus package launched by the Dubai government to face the repercussions of the spread of the Corona virus (COFED-19), as meeting the needs of customers is a priority for the center, in addition to protecting the financial services sector And all the work in the center, as well as the launch of a series of incentive initiatives and precautionary measures that ensure the health and safety of tenants, shop owners, retailers and the financial center community in general.

During the period from April to June 2020, retailers of all classes present in the buildings owned by the Dubai International Financial Center in “Gate Gate”, “Gate Village” and “Gate District” will be exempt from the basic rental fees, as this financial center was launched The initiative to support shop owners and retailers during this interim period, and to help them continue their businesses after overcoming this transitory crisis.

Issa Kazim, Governor of the Dubai International Financial Center, stressed that the measures taken by the financial center are part of the economic stimulus package that we launched to counter the effects of the Corona virus on business, the economy and all dealers, as these measures contribute to supporting retailers during this stage as well as procedures for closing shops in a way Temporary aiming to limit the spread of the virus.

Kazem pointed out that the retail sector is a key factor in the center’s community and that its support through the stimulus package contributes to reassuring business owners in the retail sector within the financial center during these times, noting that the center’s efforts to support its business community come in implementation of the rational leadership directives that strive to ensure A prosperous future for the emirate’s economy and the success of its private sector partners.

Kazem added: "These financial measures, exempting retailers and shop owners from the basic fees for rent, help them to continue their work in one of the most important shopping destinations in the Emirate of Dubai with ease and flexibility with the beginning of the return of the recovery and balance of the markets, as supporting traders are retailers. A great priority, and providing these incentives preserves our business community, and we will continue to intensify our efforts to confirm the position of the Dubai economy and enhance its opportunities for growth and prosperity. "

The Dubai International Financial Center recently launched a series of initiatives aimed at supporting companies and businesses during the Corona virus crisis, by providing support packages that exempt annual license fees for new companies registered during the next three months, as well as a 10% discount of renewal fees for license holders Current and eligible for renewal during this period. The Center also allowed to postpone the payments due on the rental property belonging to "DIFC Investment" for a period of up to six months.

The Center also reduced ownership transfer fees from 5% to 4% on any sale of the property (or any part of it) during the next three-month period, provided that such transfers are recorded in the real estate registry in the financial center within a maximum period of 30 days from the end of the same period. The financial center will also facilitate the issuance of residencies and the transfer of employees between jobs, whether available at the center, or who wish to relocate to other free zones in the event that the necessary arrangements and contracts are available for the employees of the companies concerned.

All retailers in the buildings owned by the Center are exempt from the basic rental fees for a period of three months.

Maktoum bin Mohammed:

"Our partnership with the business sector had to stand by all our partners, at all times, and in all kinds of situations."