A real estate expert calls on real estate owners to reduce the financial burden on tenants
UAE-Dubai, Mrch 25th 2020
Walid Al Zarouni ,the real estate expert, Chairman of “W Capital Real Estate Brokerage Company,”, called on landlords, real estate owners and real estate developers to forge initiatives to support their clients and reduce economic pressure on them ,so as to help them overcome these critical consequences resulting from the crisis of the “Covid-19″outbreak .
Al-Zarouni suggested the initiatives include exempting tenants from paying the rents due for a specific period, reducing their rate, or postponing the payment of installments in housing unit of projects in progress ,or postponing the payment of rent installments in other projects , in addition to other initiatives that will reduce economic pressure on customers.
Al-Zarouni said that these initiatives are not new to landlord, owners and real estate companies in the UAE that are used to national and societal contributions they make in times of adversity and crisis.
“We are currently facing exceptional circumstances beyond the will of all of us, so we must join efforts and support our leadership and government through enhancing the national efforts to overcome this crisis. It is in line with the social responsibility and the national felling of companies and real estate investors,” Al-Zarouni added.
He praised the move of some owners and developers to exempt their tenants from paying the rents due for a certain period or reducing it, which is represents a source of pride and role model, as a good initiative that should be followed.
Walid Al-Zarouni stressed that the owners and companies support their clients in these difficult circumstances by reducing their burden. Such move contributes to gaining the contenet and confidence of customers as providing support represents a good opportunity to strengthen the fruitful relationship between real estate owners and the tenants in the long term.