A real estate expert asks landlords to reduce the burden on tenants
Walid Al-Zarouni: "Reducing rents will have a positive impact on landlords and tenants."
The real estate expert called on the president of "W Capital" real estate brokerage, Walid Al-Zarouni, the owners and owners of real estate and real estate management companies operating in the UAE, to provide various forms of support to the needy tenants, by granting them reductions in rental values, and providing facilities, offers, discounts and additional months for free. In order to alleviate the living burdens on families and residents, and stimulate the demand for the rental sector in the country.
Al-Zarouni said, “This initiative comes as a continuation of previous initiatives launched during the (Covid-19) pandemic, which demanded a complete exemption from paying rents for a few months, while contributing to an increase in the rotation of the local economy and raising the occupancy rate of state real estate, given that the sector The rental represents the largest percentage in the real estate market.
He pointed out that such initiatives will reflect the societal responsibility of owners and investors in supporting the national economy, as the economy is experiencing a period of transformation and the establishment of a more diversified economy after the Corona pandemic, so everyone should uphold the public interest in reducing the financial burdens on property or shop tenants.
Al-Zarouni indicated that reducing rents will have a positive impact on both parties, as it helps the tenant stay in the residential or commercial unit until his financial conditions improve and he will not have to search for a cheaper unit, because his exit from the unit will constitute a cost for the owner, especially in commercial units, and it also helps Attracting new tenants.
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