Dubai: Wasl Asset Management on Wednesday announced a series of measures to support its individual and corporate customers in dealing with the challenges posed by the coronavirus (COVID-19) outbreak.
“Overcoming the current situation requires strong collaboration between various stakeholders and a commitment to supporting the initiatives launched by Dubai. As part of this commitment, the Group has joined a growing number of companies showing support for measures aimed at assisting the business sector and the public,” said Hesham Al Qassim, CEO of wasl Asset Management.
The Group has taken a number of decisions to ease the financial pressures on its customers, including deferral of lease payments for commercial and residential units by three to six months.
Tenants of industrial and investment land plots, as well as sub-lease allowances will also benefit from the decision. Payment delay fines and other fines will be waived on a case by case basis.
“The steps we have announced reflect our commitment to ensuring the welfare of our community and supporting our economy. We place the highest priority on helping enhance the stability and growth of our partners and tenants,” said Al Qassim.
He urged companies to engage with their customers in the current situation, and work with them to ease the pressures and challenges they face due to the COVID-19 outbreak.
The Group, which is closely following the situation as it develops, reiterated its commitment to support all government initiatives and its teams working to implement measures against COVID-19.
wasl’s initiative is set to bring significant relief to a wide range of its customers.
The company manages a portfolio of 47,000 residential and retail units and well as 5,500 industrial land plots across Dubai.
The company’s operations span various sectors: from residential and commercial properties to industrial plots of land, and from leisure and entertainment to hotels and serviced apartments.