RapNet


Rapaport News

 

Polished Markets

 
Rapaport Broadcast
Martin Rapaport Addresses Israel Diamond Week
February 12 2020

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Dubai Trading Center Unveils Relief Package

DMCC will waive rent for two months during mandatory closures.
Mar 30, 2020 6:06 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... The Dubai Multi Commodities Centre (DMCC) will implement a support package for its trade members amid the coronavirus pandemic, including discounts and fee waivers.

“In these uncertain times, we have a duty to share the responsibility and support the UAE [United Arab Emirates] government in its response to ensure our national economy remains resilient in the current circumstances,” DMCC CEO Ahmed Bin Sulayem said last week. “The economic well-being of our members and our community as a whole [is] key to ensuring we emerge from this situation stronger.”

The measures, which will apply from April 1 to June 30, include a two-month waiver of rent for businesses located in the DMCC that have had to close temporarily because of the government-enforced lockdown. Rent for the organization’s Flexi Desk and Business Centre tenants will be suspended for three months, while members will get a 30% discount on license renewal.

To provide an incentive to new companies to register, as well as companies in the process of registering, DMCC has implemented an 80% reduction on the total setup fee for businesses located in its Jumeirah Lakes Towers building, and up to 50% for other businesses. DMCC has also digitized the application process so it can be done online.

“We want to reassure our stakeholders that we have taken all measures to ensure full operational continuity,” noted DMCC chief operating officer Feryal Ahmadi. “The protection of our community, our member companies and our staff remain[s] our main priority.”

Image: The Dubai Diamond Exchange in the DMCC. (DMCC)
Tags: Ahmed Bin Sulayem, DMCC, Dubai Multi Commodities Centre, Feryal Ahmadi, Rapaport News
Similar Articles
IGI labIGI Reopens Global Offices
Jun 01, 2020
The International Gemological Institute (IGI) has reopened several offices...
JA Reveals CASE Award Winners
Christie’s Magnificent Jewels Set for July
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us