Al Hamra, the leading real estate developer, services provider and investment company in the Northern Emirates, innovated an economic relief package inclusive of several initiatives to assist to ease the financial burden of its valued mall tenants, freehold owners, residents and customers, affected by the Covid-19 outbreak.

The declaration is in line with the UAE Government and Ras Al Khaimahs aim to support the economic environment and strengthen financial stability. The initiatives include up to 3 months rental relief, reduction in cooling consumption charges, deferral of fees, waiver of payment delay penalties and payment due date extensions.

Committed teams have been installed to assess particular requirements of various businesses and individuals to offer economic relief and support. The tasked force is also reassessing affordable of operations in order to pass on the advantage to the end users and clients.

Benoy Kurien, Group CEO of Al Hamra, stated: We have been proud partners in shaping the real estate landscape of Ras Al Khaimah and this pride comes with a responsibility to the Emirate as well as to our associates and clients who have contributed to our success. This pandemic is reforming the way we think about community and has made one thing strikingly clear: our interdependence. We are working closely with our stakeholders to make sure that we recover from this period together, stronger and more resilient.

We understand the predicament faced by all and the effect of the Coronavirus outbreak on our economy. In the course of these difficult times, we are more dedicated than ever to stand strongly by our valued partners and customers. Our initiatives goals to support business continuity by offsetting some of the effect and to promote the welfare of the community. Our dedicated teams will reach out to our partners in the following days to understand and discuss their needs and enforce effective measures. We will remain to support the government, our clients and associates in all ways possible to overcome this difficult situation together.

As Ras Al Khaimahs leading developer and integrated lifestyle provider, Al Hamra group has diversified interests in retail, residential and hospitality in the emirate and owns iconic assets such as the award-winning master planned community of Al Hamra Village, Waldorf Astoria Ras Al Khaimah, Ritz Carlton Al Hamra Beach, Manar and Al Hamra Malls.