April 2020

Properties Investment announces 3 month rent relief for ‘The Market’ retailers Announcement in line with respite measures adopted as part of the global pandemic impact offering support to tenants

Properties Investment announces 3 month rent relief for ‘The Market’ retailers

Dubai, UAE, 2 April 2020: Properties Investment (PI) – a Dubai Investments joint-venture company engaged in the investment and development of real estate properties, has announced a 3 month rent relief as a goodwill gesture for all retailers within ‘The Market’ – a dedicated retail avenue, located in the Green Community, Dubai Investments Park.

In the wake of ongoing efforts to control the COVID-19 pandemic and with mall managements across the country stepping up efforts with various initiatives, Properties Investments has temporarily advised retailers to close shutters, adhering to preventive measures adopted by the government.

“Through ‘The Market’, we have been providing shopping experiences creating an impact on the wellbeing of the community and during such crucial times, it becomes even more important to ensure the health and safety of not only our customers, but also our tenants. Our tenants are the backbone of our success within ‘The Market’ and now with the temporary suspension of business, we announced this relief, to directly support the tenants. Our mall management teams are working closely with the tenants to ensure the rent relief aids towards the recovery of their businesses during these times,” said Dr. Rashid Abdulla Al Haji, General Manager, Properties Investment.

Various precautionary measures and steps like awareness communication, regular sanitisation, sterilisation and disinfection protocol to limit, contain and curtail the spread of the novel coronavirus had been implemented by mall management prior to the temporary closure.

Properties Investment along with the mall management teams have ensured constant monitoring of the situation with regular and timely feedbacks to the tenants, reiterating undue commitment and support towards the continued success of the retailers.

About Properties Investment

Properties Investment LLC is engaged in investment and development of real estate properties and is mainly involved in developing residential and recreational projects. Notable projects by Properties Investment include the Green Community and the Courtyard by Marriott in Dubai Investments Park [DIP].

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