Dubai World Trade Centre Authority reveals relief measures for clients and tenants
The move comes as efforts to combat the coronavirus outbreak require social and physical distancing, bringing the events and meetings industry to a standstill
Dubai World Trade Centre Authority revealed a number of relief measures including fee waivers and rent deferrals for its clients and commercial tenants as it looked to support businesses hit by the pandemic and ensure their quick return to normalcy post crisis.
The authority, which manages the exhibition hub Dubai World Trade Centre, said it will not charge its event organisers cancellation fees or late payment fees and will allow them to carry forward fees that were paid earlier for events. Meanwhile for exhibitors, the DWTCA will issue a full refund on cancelled events – a move that will support the meetings, incentives, conference and exhibitions industry.
The DWTCA will provide a rent holiday from April to September to its retail tenants in the Dubai International Convention and Exhibition Centre and One Central while its commercial tenants will have a three-month rent holiday starting from April.
These measures come as the coronavirus outbreak has brought the travel and tourism industry to a virtual standstill. The pandemic has grounded flights and halted air travel as governments put in place lockdown measures to contain the spread of the virus.
The authority will also provide a 70 per cent rebate on all category specific business registrations and licences and a 50 per cent annual rebate on general trade licences.
“As a foundational pillar of the emirate’s business tourism industry, we seek to assist our stakeholders navigate the Covid-19 circumstantial risks, preserve financial viability, and manage operational sustainability for the interim until conditions normalise,” Helal Almarri, director general, Dubai World Trade Centre Authority and Dubai’s Department of Tourism and Commerce Marketing, said.
“The actions unveiled today are designed to significantly subsidise the cost of doing business within the DWTCA free zone complex for those most impacted – especially the smaller players and those in the MICE ecosystem, offering assistance to our clients, partners and suppliers.”
The pandemic, which has infected more than 2.6 million people worldwide, has led various business events in the UAE to be postponed. Arabian Travel Market, a major exhibition for the region's travel and tourism industry, was moved to 2021, its organisers recently said.
Updated: April 22, 2020 10:28 PM