UAE will be one of the first to bounce back post-coronavirus pandemic due to its strong resolve and ability to adapt – Lootah CEO
Dubai, 21 April 2020:
One of the region’s leading real estate developers, Lootah Real Estate Development (Lootah), emphasised that the UAE will be one of the first nations to bounce back post-coronavirus pandemic due to its strong resolve and ability to adapt.
According to Lootah CEO Saleh Abdullah Lootah, these effective traits were demonstrated through the initiatives and measures implemented by the country. They include building one of the world’s biggest testing laboratories, conducting mass testing that now ranks third in the world, promptly releasing a series of economic stimulus and sending humanitarian aids to many other countries.
“These measures will firmly establish UAE’s role as a global leader and model for other countries to follow,” Lootah said. “Being able to adapt quickly to new developments and market realities makes the UAE a stalwart of stability and resilience through any crisis. It is that power of vision of the UAE’s wise leaders, as well as the country’s high adaptability and resilience that have always enabled the UAE to overcome any challenges and make progress.”
He commended the UAE’s multi-prong approaches to strengthen the momentum of trust between the country, its people and the business that operate from it.
The first approach is the UAE’s topnotch measures to take care of the well-being of all its citizens, residents and tourists through its integrated service sectors and bringing into service game-changer, high capacity rapid testing centres. Second is the prompt passing of a massive stimulus packages to stabilise the economy, allowing for a quicker economic recovery. Third is the country’s leading role in sending humanitarian and relief efforts to many countries all over the world.
“Around 10 million people continue to trust the UAE government as their home as the country shows its steadfast commitment through a wide-range of initiatives that help cushion impacts of the pandemic. This commitment paves the way, as it has always been, for citizens and expats alike to place their full trust to the UAE,” Lootah added.
Lootah hailed the UAE’s decisive action to boost its support to businesses through various landmark economic responses, including the Dh256 billion stimulus from the Central Bank as a significant help to aiding business continuity and creating market stability.
The UAE has also scored more esteems when it successfully built the first laboratory in the world—outside China—that can conduct tens of thousands of real time COVID-19 tests per day. Additionally, the country has rolled out an inclusive COVID-19 healthcare coverage wherein patients can avail of the free testing and treatment procedures – with or without a health card.
The country has set the bar high on the global scale in terms of massive testing. As of April 14, 2020, over 648,195 tests have been undertaken since the dawn of the disease, screening around 60,000 people per million. It is currently third highest in the world in terms of number of tests performed per one thousand population.
“The core of every business and the foundation of every working economy is trust, and this is what the UAE has continuously earned – the trust of its people, whether they are citizens, residents or tourists. And this trust will be the bedrock of our bouncing back,” Lootah said.