The Sharjah Sports Club board of directors approved, during its second meeting, the decision to exempt investors and lessors of its projects from the value of contracts due in the second and third quarters of this year.
The club said in a press statement today: “The Council’s approval came on the recommendation of the club’s investment and commercial development department, regarding the exemption and reduction of the rental value of contracts for investors, in line with the directives of the Sharjah government in reducing the burden on the investment sector due to the emerging Corona Virus pandemic and economic consequences.”
In the statement, the club’s investment and commercial development department, headed by Mohamed Ibrahim Al-Jarwan, had submitted, during its second meeting, a recommendation to the board of directors to contribute with the investors to be exempted from the value of the lease contracts, and the decision to exempt the lease included all investors contracting with the club, who praised the council’s decision The management appreciates the positive step that I have taken as a representative in the department of investment and commercial development and its understanding of the situation and its effective contribution to standing by them in this circumstance in the current period ».
For his part, Ibrahim Al Jarwan, Head of the Commercial Investment and Development Department of the club, thanked and thanked Ali Salem Al Midfa, Chairman of the Sharjah Sports Club and members for the immediate approval of this initiative, which is counted among the Sharjah Sports Club community initiatives, in line with the directions and initiatives of the government of the UAE to contribute to mitigation The economic consequences of the Corona Virus pandemic (Covid 19), adding that the administrators support social initiatives and it is natural that they stand with the investors during this period.