São Paulo – The Al-Futtaim Group said this week that it will earmark AED 100 million (USD 27.7 million) to help retailers at its malls through the Covid-19 pandemic in the UAE. The cash will cover three months’ rent for stores at Al-Futtaim-managed venues.
One of the UAE’s biggest conglomerates, Al-Futtaim is active on many fronts, including malls. Khaleej Times online reported that the funds will help ease spending for retailers as they shut down their businesses to prevent coronavirus from spreading.
Last week saw the Group create a taskforce to look into how it can support retailers. The team was tasked with quickly coming up with effective measures to help affected tenants at its malls.
Translated by Gabriel Pomerancblum
PUBLICIDADE
