Due to the spread of Coronavirus pandemic all over the world, the UAE National Emergency and Crisis Authority have decided to suspend all passenger and transit flights from the country for an unknown period of time. This was a response to precautionary and preventive measures to prevent the spread of the new Coronavirus "Covid-19". In addition, they have set the whole Emirate into lockdown in an attempt to stop spreading the virus in the country.
Dubai, one of the main cities in the Emirates, has suffered unprecedented losses, especially in the tourism sector. Its economy has also been affected by other sectors, as it represents a center for trade, finance, and transport in the Middle East, and it has a diversified economy, not only dependent on oil revenues. The economy in Dubai, which is known as the capital of money and investment in the Emirates and the Middle East. Where in the aviation sector and the UAE airline Etihad Airways companies have laid off hundreds of workers during the past months, including hospitality crews, after the Coronavirus pandemic forced them to stop their flights. Many other sectors have resorted to reducing the salaries of employees or layoffs.
One of the losses suffered by the real estate market in Dubai is the fact that the Dubai Expo 2020 was postponed for a year, expected to welcome 11 million visitors from outside the country not to mention the low real estate values, which is the main economic driver of Dubai.
fäm Property Management adhered to the safety and protection standards and gave the opportunity for its tenants to connect via email or phone. fäm Fix It App also was a means for tenants to communicate in case of any damage to the property or any problem that needs a repair. Following the requests, fäm Property Management communicates with the tenants within a short period of time and takes action starting off by sterilizing the property and proceeding with the necessary procedures.
Because fäm Properties desires to give back to the industry, it launched an initiative to assist foreign-based investors with their handover on behalf of investors who can't fly to Dubai. This initiative is free and comes with complimentary 3-month property management. Foreign investors who are stranded in their countries and nowhere have access to Dubai to proceed with the handover of their properties now have the option to proceed without having to spend on anything. fäm Group through fäm Property management wanted to help investors and offer free solutions for the ones who are unable to visit the country to proceed with the property handover and it is willing to provide investors with free professional handover support. This initiative comes along with many other services that fäm Properties provides to their clients since their client's convenience is always their priority.