UAE-headquartered upscale residential, hospitality and commercial property developer Seven Tides has launched a promotion aimed at UAE residents facing-up to the economic and social challenges brought on by the coronavirus pandemic.

The special promotion which offers new tenants two rent-free months and set to coincide with the 49th UAE National Day, applies to Seven Tides’ properties in Discovery Gardens and the Residences at Ibn Battuta Gate in Dubai.

Abdulla Bin Sulayem, CEO, Seven Tides said: “The pandemic has led many residents to re-evaluate not only their immediate living space, but their location and of course their budget.

“We wanted to help support residents who were finding living costs challenging at the moment, particulary young families and with the National Day celebrations focusing on our legacy, tradition and our values, this was an ideal time to launch this promotion.”

Discovery Gardens is a modern residential community that consists of six themed districts, which is located a short distance from Ibn Battuta Mall. As part of the promotional offer, Seven Tides will offer new annual tenancy agreements (including the two-month rent free) for studios, one-bedroom and two-bedroom apartments with rental rates starting at AED 22,500, AED 37,500 and AED 56,000 respectively, excluding chiller charges. Meanwhile, tenants renewing their contracts will get a one-month rent-free incentive and leasing commissions will also be waived during the promotional period.

Over at The Residences at Ibn Battuta Gate, a one year rental contract for a studio starts from AED 45,000, one-bedroom apartments start at AED 52,000 and two-bedroom apartments start from AED 65,000. These rates do not include service charges or utility costs and both promotions are valid until 12th December 2020. Existing tenants looking to renew their contracts for a further 12 months during this period will also qualify for one free month’s rent.

“The Residences feature 24-hours concierge, maintenance and security services, underground basement parking, fully-equipped gymnasium and rooftop swimming pool. Residents can also enjoy preferential rates at the adjacent five-star Oaks Ibn Battuta Gate Dubai Hotel,” said Bin Sulayem.

Earlier this month, Pfizer released the first reading of its Phase-3 trial data for its COVID-19 vaccine, announcing that it was more than 90% effective in preventing the coronavirus, based on interim data analysis and other vaccines with similar success ratse during their respective trials have been announced.

In the case of Pfizer, if their vaccine gets US federal approval in time, it estimates it can manufacture 50 million doses this year and up to 1.3 billion in 2021, enough to vaccinate almost 675 million people.

“Despite the economic and social challenges we have all faced this year, news about these vaccines being made available, potentially within a matter of weeks, if not months, is creating an air of optimism, that we are finally coming to the end of this pandemic,” added Bin Sulayem.