Hassad, Qatar’s premier investor in the food sector, has announced a 50% reduction in the rent for all commercial activities (stores & barns) in Al-Wakra Central Market, starting from November 1, 2020, for two years.
This strategic decision aims to support the local livestock sector and its associated activities. To ensure continuous success in all central markets managed by Aswaq for Food Facilities Management (a subsidiary of Hassad), a clear and planned mechanism was set.
The company outlined a number of requirements for all tenants to follow, such as continued products’ supply, maintaining high quality products and services, adherence to the markets regulations, hygiene requirement, uniforms, as well as prioritising local produce.
"Contributing in achieving Qatar’s food security always tops Hassad’s strategic goals," Mohamed al-Sadah, Hassad chief executive, said, while reasoning for the 50% reduction in rents.
Hassad has funded the development of the central markets with the aim of establishing integrated marketing platforms, which includes all basic consumer goods, in order to meet the consumers’ needs during their visit to any of the central markets. Earlier this year, Hassad had exempted all tenants in Al-Wakra Central Market and Al-Sailiya Central Market from the rental fees in full, for a period of six months from April to September 2020.
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