Aldar Properties has allocated $27.2 million as part of its long-term efforts to protect stakeholder interest in the real estate market, media reports said. The stakeholders include residents, tenants, customers and partners.
Aldar Properties is headquartered in Abu Dhabi. The developer said that it plans to focus on initiatives developed in the best interest of its tenants. Under these initiatives, tenants residing in Aldar residential units will receive monthly payment plans to ease the burden of rental commitments until 2020.
In addition, the developer will set aside $1.08 billion to ensure on time payment for its contractors, consultants and suppliers. In recent months, the developer has demonstrated significant efforts to strengthen its commitment toward stakeholder management.
CEO Talal Al Dhiyebi said in a statement, “As the leading real estate company in Abu Dhabi, we are focussed on long term sustainable value creation. As such, we will continue to demonstrate our leadership and responsibility in support of the long-term success of our stakeholders. The schemes we are launching today will help ensure that we emerge from this period together in a position of strength and resilience. The underlying fundamentals of our market remain uniquely sound and we believe that we have the resources to see ourselves through the coming period.”
Aldar Properties will also take on initiatives with retail partners to focus on SMEs and startups, media reports said. More importantly, parents of students part of Aldar Education portfolio will receive a monthly payment plan for school fees payment for the current annual year.