Move is designed to help external SME retail tenants weather the impact of COVID-19
Qatar Foundation has waived rental payments for its external SME retail tenants for six months, to support them in overcoming the challenges created by the worldwide coronavirus outbreak.
Measures taken by the organization to safeguard the wellbeing of its staff, faculty, students, and the wider community have included closing public facilities and programs at Education City, and cancelling events, reflecting the fact that public health is Qatar Foundation’s (QF) top priority.
Recognizing that these steps will have a financial impact on its external SME retail tenants, QF has now acted swiftly to ensure that these businesses will not be required to pay any rent from this month until the end of August 2020.
“Unprecedented times and challenges such as those the world is currently facing call for resilience, togetherness, and decisive action,” said Machaille Hassan Al-Naimi, President of Community Development, QF.
“QF has always been committed to supporting the economic development of Qatar, and this commitment is being further evidenced by the actions we have now taken to help our external SME retail tenants who would otherwise be adversely affected by the necessary measures we have implemented to safeguard people’s health and wellbeing.
“These businesses are a valued element of the Qatar Foundation community, and of Qatar’s economy as a whole. Through waiving rental payments for the next six months, we are demonstrating that we are determined to help them weather this extremely difficult time, and to contribute to the economic resilience of our nation – because Qatar Foundation will always be, and always do, what Qatar requires.”
In addition to the rental waiver, QF is also looking at solutions to support its other commercial partners that have been adversely affected by the COVID-19 situation.