Government measures in key jurisdictions 3rd edition final - Flipbook - Page 134
United Arab Emirates
•
The
have launched a CSR initiative called “Together” in cooperation
with several jointly owned property management companies in Dubai to support tenants and
landlords. Under the initiative, they provide the necessary life supplies (such as food, medicine,
sterilisation materials, gloves, paper napkins, and face masks) free of charge to those in need in
various projects and freehold areas across Dubai. Additionally, the management companies shall
consider extending additional measures including cancellation of fines for 2019 and 2020,
provision of flexible instalments to pay service fees, reduction of service costs, and flexible
payment options for air conditioning services.
have launched an economic stimulus package to compliment
the Dubai Government’s efforts to overcome the COVID 19 situation which include real estate
initiatives such as postponement of rent payments by a period of 6 months; refund of security
deposits and guarantees; facilitating payment by way of instalments; and cancellation of fines on
corporates and individuals. The above benefits will be applicable to the free zones in Dubai.
134
•
The
) have formed a new committee of first
instance to review rental cases relating to claims of lease termination and rent reduction arising
out of COVID 19 pandemic. A newly set up appeal committee shall review appeal cases in respect
decisions issued by the committee of first instance. Both committees shall follow the rules and
procedures of the RDSC.
•
The
have launched Ghadan21 which consists of 16 initiatives under
Abu Dhabi economic stimulus package including numerous real estate recommendations such as
zero charge of individual or commercial real estate registration fees; zero Tawtheeq fees for
commercial and industrial activities in the year 2020; a 25% reduction in industrial land leasing
fees for new contracts; up to a 20% rebate on rentals for the restaurant, tourism and
entertainment sectors; and suspension of the tourism and municipality fees for the tourism and
entertainment sectors in 2020.
•
The
have announced a 20% rent
refund for leases of restaurants and food and beverage outlets, as well as tourist and
entertainment facilities with the exception of lease to own contracts. The refund is applicable for
lease contracts signed between 1 October 2019 and 31 March 2020, or renewed between 1 April
and 30 September 2020. With respect to rent which consist of fixed rent and percentage of
revenue, the refund shall apply on the fixed rent only.
•
The
have announced that all eviction procedures relating to
family residential premises have been postponed until end June 2020. The travel ban
measurement of a debtor has been temporarily replaced with confinement. There is a further
suspension of execution procedures on moveables, properties, shares and bonds.
•
The
have created an internal Stimulus
Committee to enact initiatives supporting the hospitality industry which include measures such as
6 months’ waiver of all touristic licenses; waiver of tourism dirham fee from March to May 2020;
exemption of tourism licensing fees for Q2 and Q3 of 2020 and tourism licensing fines until 30
September 2020. The authority has also launched a financial incentive package geared towards
non-government owned establishments including budget, midscale and 4 star hotels, along with
attractions, golf courses and other tourism establishments.
Government measures in key jurisdictions