Dolmen Mall Clifton has decided to withdraw 100% of the rent on outlet stores due to the dire situation.
With the situation of COVID-19 deteriorating day by day, companies have decided to take certain measures to ensure the least possible economic distress to their employees.
The management of Dolmen Mall Clifton in Karachi, has taken such measures under orders from the Government to contain and guarantee the adequate method of preventing the spread of the novel coronavirus. The decision to waiver off rentals on tenants who have stores, restaurants, outlets or retail will not be required to pay rent as of May 15th 2020. In accordance with the directions issued, supermarkets and banks which are providing essential service do not fall under this jurisdiction.
The current decision comes as a huge economic relief; due to the deadly global pandemic, businesses have come to a scathing halt and tenants, store and restaurant owners, are unable to earn and continue functioning because of the implementation of lockdown and curfew restrictions. Management has released a statement regarding their decision in solidarity with the Government regulations,
"We fully support the efforts of Sindh and Federal Governments to contain the spread of this epidemic and stand with the nation in this difficult hour. Insha Allah, by the grace of Allah Almighty, the spread will be contained soon. We shall inform the exchange as soon as the operations are normalized."
Harbour Front, Dolmen's sister mall, has also received news of a 50% withdrawal of rent, for the month of May, providing more stress-relief as tenants will be able to keep business afloat and employees financially secure.
This comes as a relief to small business owners and shopkeepers who are stressed about their lack of cash flow damaging their business as the Federal Government has been hosting consistent meetings to procure financial safety to their best capacity to compensate for losses encountered during this difficult time.