Dubai, United Arab Emirates: Al-Futtaim Group today announced that it will be making a substantial contribution to ease the financial burden of its retail tenants by offering a fund of AED 100 million to help its retailers affected by business disruption and slowdown due to the COVID-19 pandemic. The fund will cover up to three months’ rent relief for eligible tenants across its malls in an effort to aid the recovery of their businesses in the UAE.
Over the last week, a taskforce has been established to examine how Al-Futtaim could support its retail tenants as COVID-19 forced most residents of the UAE to spend more time at home. The team was tasked with quickly developing effective measures to help the affected tenants.
Timothy Earnest, Group Director, Al-Futtaim Malls commented: ‘In these unprecedented times, we understand the difficulties faced by the businesses and the impact this current situation is having on our economy. As a business deeply attached to the wellbeing of the UAE, we have a role to play and have committed ourselves to finding ways to support while the malls remain open. We hope this contribution will help pave way for business continuity in this difficult environment.”
He added: “Our tenants are of utmost importance to us always, but even more so in this challenging time. It is our duty to provide guidance and assistance to them in this time of need. All tenants will be contacted in the coming days by dedicated mall teams to discuss their individual requirements and process for relief.”
Al-Futtaim Group’s mall portfolio in the UAE comprises of Dubai Festival City Mall and the newly opened Festival Plaza mall.
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About Al-Futtaim
Established in the 1930s as a trading business, Al-Futtaim today, is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates.
Structured into four operating divisions; automotive, financial services, real estate and retail; employing more than 42,000 employees across 29 countries in the Middle East, Asia and Africa, we partner with over 200 of the world's most admired and innovative brands.
Al-Futtaim’s entrepreneurship and relentless customer focus enables the organisation to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.
By upholding our values of respect, excellence, collaboration, integrity; Al-Futtaim continues to enrich the lives and aspirations of our customers each and every day. For more information visit: www.alfuttaim.com
About Dubai Festival City Mall
Dubai Festival City Mall is one of the major shopping destinations in Dubai. With over 400 outlets, the mall is home to IKEA, renowned fashion brands like Zara, H&M, Coach, Kate Spade and for the first time in the Middle East, luxury Singaporean department store, Robinsons.
The dining destination offers iconic waterfront Dining on Festival Bay, 56 restaurants and cafés, the largest Food Court in Dubai and is first to market F&B concepts like Sugar Factory, Tortilla, and the Middle East’s only Hard Rock Café. The entertainment venue offers a 7-star 18-Screen Novo Cinemas with 4D IMAX, Fabyland, a 70,000 sq. ft. family entertainment centre and Festival City’s newest addition, the global attraction IMAGINE. IMAGINE, the two-time record-breaking visual and sensory extravaganza, plays live every night on the iconic Festival Bay and is free for all visitors.
For more information on Dubai Festival City Mall, please visit http://www.dubaifestivalcitymall.com/
About Festival Plaza
Opened in December 2019, Festival Plaza is Al-Futtaim’s latest local community shopping project in the South of Dubai. The huge retail precinct covers 64,800 square metres and serves as a convenient and local lifestyle destination at the centre of the upcoming Wasl Gate community.
The shopping destination is home to much-loved flagship stores including IKEA, M&S and a new concept store from Lulu Hypermarket. These stores are joined by over 120 others, as well as complimented by a 500-seat food court, over 40 dining and eating options, a Stay and Play offering, family entertainment Kids Club and over 2,300 parking spaces.
For more information on Festival Plaza, please visit https://www.dubaifestivalplaza.com/
For media inquiries please contact:
Claire Lawson
Impact Porter Novelli
c.lawson@ipn.ae
T 971 55 400 3235
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