KHALEEJ TIMES, Sunday, Sep 29, 2019 | Muharram 30, 1441
Up to 20% discount on rent in Dubai announced
Emirates: Awqaf and Minors Affairs Foundation (AMAF) has launched a 'Ejar
wa Ajr (Rent and Get Rewarded)' initiative to provide sustainable endowment
residential options in its real estate portfolio with simplified conditions.
Valid until 2019 end, the initiative offers elderly Emirati citizens, people of
determination, as well as employees of local and federal government entities a
10 per cent discount on the rental value of vacant units within AMAF's property
portfolio.
In addition, members of Dubai SME can benefit from a 20 per cent discount on the
rental value of AMAF's vacant commercial units.
The rental income from these properties that are managed by Deyaar Property
Management will be allocated to the development of AMAF's endowment
projects. The rental contract will be signed directly at the Deyaar offices.
His Excellency Ali Al Mutawa, Secretary General of AMAF, said: "The new
initiative expands the group of beneficiaries within our residential and
commercial property portfolio. We are confident the Rent and Reward scheme will
witness a high uptake from our stakeholders as it not only provides them with
access to user-friendly facilities."
He added: "This initiative was inspired by the Letter of the New Season from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime
Minister of the UAE and Ruler of Dubai."