Coronavirus: Dolmen Group Waive Off April 2020 Rent

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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:

Dear Tenant,

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 utilization
  • 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

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