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Real Estate and Hotels in the Time of COVID-19

by Tara Marlow - Partner, Head of Real Estate, Hotels & Leisure - Real Estate - t.marlow@tamimi.com - Dubai International Financial Centre

Published: April 2020

 

Our Focus for this month’s Law Update covers Real Estate and the Hotels & Leisure industry across the region. It is a timely focus given the unfortunate climate we find ourselves in as a result of the COVID-19 situation. No-one is escaping the pain that this is causing, and the Real Estate and Hotel sectors have been heavily impacted. We have seen launches of real estate projects postponed, temporary closure of hotels, restaurants, facilities and retail outlets, cancellation of events, thousands of hotel staff being furloughed, and generally revenues plummeting as a result of the necessary measures taken.

As Governments across the Middle East & North African (‘MENA’) region have been swift to take action to limit the spread of the virus, we are hopeful that the situation will be as short lived as possible, and business starts to return to normal before too long.

We have included a range of articles that we hope you find of interest. At the time of publication, we are busy assisting and supporting our clients in respect of the impact of COVID-19 on their day-to-day businesses. Whether

a landlord, financial institution, investor, hotel owner, hotel operator, fund or tenant, we are here to help.

Please do not hesitate to get in touch if you need any assistance, advice or guidance.