Due to the prevalent lockdown from Coronavorus, Dolmen Group has taken an interesting initiative. Dolmen Real Estate management just announced to waive off all rental for month of April 2020 for its retail partners in Pakistan. The detail announcement by Faisal Nadeem, Chief Operating Officer of Dolmen Group states following:
On behalf of the Dolmen Group I pray everything is good and all
is well. We hope you and your loved ones are keeping well during this time. Dolmen Group is the pioneer of retail real estate
and shopping malls in Pakistan. We believe one of the key reasons for this
success is that we have strived to move away from just a tenant and landlord relationship and work hand in hand with our retail partners to help develop and grow the retail industry.
Dolmen Group is once
again committed to supporting its tenants during these challenging times. We have tried our utmost to
develop an equitable and manageable solution which provides the maximum relief to
our tenant partners. This is summarized as below:
- Waiver of all rentals for the month of April 2020
- Waiver of all CWF charges for the closed period
of the mall
- Electricity to be charged as per actual
- CAM costs
to be charged as per actual but with reductions resulting from management of operation cost and savings from utility costs from closure of operations.
Further Dolmen Group will itself fund the overheads and head
office costs related to mall management during this month. Details and calculations of the above are currently
being developed by our team and will be shared with all our tenant partners in due
course. Dolmen Group will continue to monitor the situation and review future courses of actions in the same spirit of mutual collaboration
and supporting our tenant partners.
We are hopeful that Insha Allah the situation will improve soon
and we will all be able to focus towards normalization and generating long term
business. The Dolmen team and I are available to assist you
in case of any questions or queries.
Dolmen Group is one of the Pakistan leading real estate company established in 1984. The group currently owns and operates one of the largest portfolio of shopping malls. Dolmen Group also operates Pakistan first real estate REIT i.e Dolmen City REIT