Yahya Al Jasmi, GM of Holding Group Responds To Reduced Property Rentals in Ajman

A number of real estate owners and building owners in Ajman responded with the call of the Municipality and Planning Department for the initiative and reducing the value of residential and commercial rents under the current circumstances and taking into account the repercussions of the corona pandemic on the economic sectors.

A number of owners interacted by decreasing the value of rents by between 20% to 35%, in addition to postponing the current dues and not submitting complaints regarding the returned checks, stressing the importance of social responsibility from the owners of real estate companies towards the tenants and stand by them in light of these humanitarian conditions.

Yahya Al Jasmi, General Manager of the Ajman Holding Group of Companies and Director of “Askan Real Estate”, said that this humanitarian initiative is from the Municipality and Planning Department and must be interacted with by real estate owners and real estate companies within the social responsibility, and the need for concerted efforts to overcome the economic labor crisis caused by the Corona pandemic. And its impact on a number of economic sectors, which affected the income of many worlds in companies.

He stated that since the repercussions of the economic crisis due to the pandemic emerged, the management of Eskan Real Estate Company decided to reduce the value of residential and commercial rents by 35% for tenants by a high value and by 20% for other rents in appreciation of the current conditions, stressing the company’s management’s keenness to support the tenants and not to take legal measures in the event of non-payment The value of the rent owed at the present time, pointing out that this matter included commercial contracts for investors.

Support those affected

For his part, businessman Mohammed Saeed Al Nuaimi welcomed the call of the Municipality and Planning Department to reduce the value of rents to tenants and investors in order to reduce the effects of economic repercussions due to the pandemic of “Corona” virus, stressing that this invitation comes within the framework of the Ajman government’s interest in providing support to residents and businessmen with a view to overcoming the current conditions of By providing support and assistance to the social strata that were affected by the stumbling of some economic activities.

He stated that the government provided many incentives to support the economic sectors and investors, in addition to making double efforts to provide treatment for all members of society. In terms of social responsibility, real estate owners must provide initiatives that are part of the government’s efforts to support the community and reduce the value of rents, pointing out that since the beginning of the pandemic, he has reduced the value of rents. At 20%, he did not take administrative or legal measures for those who failed to pay the value of the rents in the structures he owns, in appreciation of the current circumstances.

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