Dubai Culture and Arts Authority (Dubai Culture) has launched a stimulus package aimed at supporting investors in its cultural and heritage assets in the emirate, and supporting them to deal with exceptional economic conditions, due to the crisis the whole world is going through in the face of the emerging Corona Virus pandemic (Covid-19).
The package includes some exemptions and additional grace periods, within the framework of the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to provide all aspects of support to society with all its components at this stage.
This package integrates with the set of economic incentives and improvement measures launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, to support the business sector in Dubai, and reduce the effects of exceptional circumstances on the economic sector, as "Dubai Culture" initiated Activating a support package to ease the burdens on investors and tenants of the property of the Cultural and Heritage Authority in Dubai, which included stopping the fees for fines resulting from the delay in the payment of rents for those properties starting from mid-March, and postponing the collection of checks due for these rents for three months. From the beginning of this April.
The study also included extending the lease contracts for a period of three months renewable, and these measures express Dubai Culture’s commitment to its responsibility towards the UAE community in general, and the cultural and creative community in particular, and its keenness to ensure the sustainability of the cultural and creative sector in Dubai, and to strengthen its foundations with all possible means and procedures .
The Director General of "Dubai Culture" Hala Badri stressed that "the priority of the authority in the current period is to ensure the sustainability of the prosperity of the cultural scene in the UAE and the continuity of creative production in Dubai, and provide everything that would support all those involved in it." She said: "This supportive package falls within many of the measures taken by (Dubai Culture) within the framework of its vision aimed at enhancing Dubai's position as a global center of culture, a forum for creators and a talent incubator." "Our responsibility now, more than ever, is to embrace our creators, talents and all those in the cultural and creative field, and to work to facilitate their path, and contribute to removing obstacles that can stand in the way of their growth and prosperity, while supporting the pioneering efforts that Our leadership exerts it in order to fortify the national economy and protect the business environment operating on its soil, which is considered the most unique in the region. ”
The facilities come to support investors during the current exceptional circumstances due to the crisis the world is going through.