In line with the UAE government and Abu Dhabi’s objectives to support the economic environment and boost financial resilience, capital based real estate developer International Capital Trading (ICT) has announced a series of initiatives aimed at supporting all tenants, partners and suppliers across its real estate portfolio.
ICT’s real estate portfolio includes mixed-use retail projects like Nation Towers, TCA & TCB, United Square and hospitality projects such as Al Raha Beach Hotel and St. Regis Abu Dhabi, to name a few.
“As a business, we want to do everything we can to help and support all our business partners and tenants during this exceptionally difficult time. We want them to feel secure in the knowledge that we are there for them and that we are in this together,” said Hamad Al Shamsi, CEO, ICT.
“Following the Abu Dhabi Government and the UAE Central Bank’s financial stimulus and thoughtful steps to support the local economy, we want to pledge our full support for these national objectives of providing relief to businesses, retailers and the hospitality sector, as well as stimulating the economy,” he added. “As a result, we have taken a number of key steps to help support our valued tenants, partners and suppliers. This includes waiving rents for retail and hospitality tenants across our properties for three months alongside restructuring and delaying payment plans to suit their needs.”
“We also remain committed to paying all partners and suppliers on time and without delay, whilst continuing to monitor the situation closely and make further changes to support our tenants and suppliers when required,” Al Shamsi concluded.
Watsons to open 20 new stores in the GCC
In 2020, global health & beauty retailer AS Watson Group signed its
April 29, 2024 | By Rupkatha BAsda and Deliverect Deepen Partnership to Power Rapid Delivery Across Asda Express
SQUATWOLF’s Kuwait Flagship Store Anchors Its Regional Growth Ambitions
Global beauty icon Ulta Beauty to make Riyadh debut at Panorama Mall
/ 
For decades, Haldiram’s built deep recall across the UAE through its packaged
When House of Habanero opened its first physical location at Alserkal Avenue
Union Coop has completed a significant expansion of its Hatta Souq branch,
Saudi Arabia is set to welcome U.S. food exporters this week, as
Majid Al Futtaim has officially entered the discount retail segment with the
As convenience increasingly becomes currency in the region’s grocery landscape, Union Coop
As wellness becomes a lifestyle in the UAE, the grocery aisle is
Grandiose, one of the leading grocery retailers in the UAE with a
With shifting consumer behaviour, rising cost pressures, regulatory changes, and rapid digitization,
Union Coop’s blend of retail expansion, digital innovation, and community focus is
Abu Dhabi-based MAIR Group has marked a pivotal stage in its transformation
In a move that blurs the line between shopping and investing, Apparel
/ 
Why cinemas, wellness sanctuaries and cultural districts are becoming emotional infrastructure for
From bullion to boutiques, investment to immersion, Dubai Gold District marks a
An evening where global retail leadership met Saudi Arabia’s rising influence in
Under the patronage of His Royal Highness Prince Saud bin Mishaal bin
Alandalus Property Company is one of Saudi Arabia’s leading real estate investment
Red Sea Markets Company unveils a transformative evolution to Red Sea Mall,
The Point represents a strategic partnership between the Red Sea Markets For
Azad Properties, a leading real estate developer in Saudi Arabia, has signed a Memorandum of Understanding (MoU) with the National Housing Company (NHC).
NRF Vice President of Education Strategy Susan Reda forecasts 2025’s retail trends
The Dubai Duty Free (DDF) has recorded sales of $1.94 billion up
Previous Article
