DWTC offers relief measures
Dubai’s economy is built for resilience in scenarios of extreme global volatility and unprecedented uncertainty
Sheikh Ahmed bin Saeed Al Maktoum
Chairman of DWTCA
dubai — The Dubai World Trade Centre Authority (DWTCA) on Wednesday announced a host of measures such as rent deferment and fee cuts for retailers, free zone businesses and the Mice (meetings, incentives, conferences and exhibitions) sector to better cope with the impact of coronavirus.
The authority announced zero cancellation and rescheduling, as well as no penalties for late payments for exhibition organisers. In addition, it allowed them to carry forward prepaid fees as credit to next year. DWTC exhibitors will also get a full refund on cancelled events and where a new schedule is not feasible for participants.
It noted that it will not charge rent
for up to six months from retail tenants of the Dubai International Convention and Exhibition Centre and One Central, impacted by the lockdown.
For commercial tenants in the SME and startup categories, the DWTCA will give up to three months of base rent deferment, which will improve liquidity in the critical sector’s ecosystem.
Free zone businesses will also receive relief for three months between April to June in different categories. The authoirty offered 70 per cent rebate on annual fee for business registration and licences — both new and for renewal. It also announced 50 per cent rebate on annual fee for general trade licences and registrations.
We are deeply appreciative of the trust and confidence that the industry has shown in us and in Dubai
Helal Saeed Almarri,
Director-general of DWTCA
It also waived administration fee on all visas – new transfer and renewals. All these measures will help firms better manage their fixed operating costs, and liquidity amidst loss of activity due to stringent public health related restrictions and business closures.
Prior to DWTCA, federal as well as state governments, free zones, conglomerates and other major businesses have offered relief to their customers on the similar lines in the form of rent deferment and fee cuts.
“Dubai’s economy is built for resilience in scenarios of extreme global volatility and unprecedented uncertainty. Under the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and the Ruler of Dubai, our city continues to deliver expedient and concerted societal action, harnessing the collective efforts of government, business and the community, to ensure economic stability in today’s climate,” said Sheikh Ahmed bin Saeed Al
Maktoum, Deputy Chairman of the DWTCA, President of the Dubai Civil Aviation Authority, Chairman of Emirates airline and Chief Executive of the Emirates Group.
Helal Saeed Almarri, director-general, Dubai World Trade Centre Authority and Dubai’s Department of Tourism and Commerce Marketing, said these initiatives are designed to significantly subsidise the cost of doing business – especially the smaller players and those in the MICE ecosystem. “Even as we work towards active recovery, and acceleration of the economic contributions of business tourism to Dubai’s GDP, we continue to diligently prioritise protecting the health and safety of our people and our communities. These factors remain integral to our core values as a business, and we are deeply appreciative of the trust and confidence that the industry has shown in us and in Dubai, as we work together to tackle this global crisis,” Almarri said.