wasl Asset Management Group announces measures to support customers

wasl Asset Management Group announces measures to support customers
Measures include deferral of lease payments for commercial and residential units by 3 - 6 months

In response to the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum and the follow up of Deputy Ruler of Dubai and Chairman of wasl Asset Management Group His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum on extending assistance to all segments of society in dealing with challenges posed by the current situation, wasl Asset Management has announced a series of measures to support its individual and corporate customers.

Hesham Al Qassim, CEO of wasl Asset Management, said 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.

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.
 
Al Qassim said the measures respond to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum and his call to companies and establishments to fulfill their social responsibilities during this critical period. “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. We are keen to provide them with all the assistance necessary to maintain their operations and ensure the stability of the business environment so that Dubai continues to be the world’s best place to live and work,” he said.

He further said companies should 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 brings 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.