Alandalus says COVID-19 measures to impact business, financial results

15/04/2020 Argaam

 

Alandalus Property Co. said that the government’s precautionary measures to contain coronavirus outbreak will have an impact on the business and financial statements of the company, as well as its subsidiaries and associates.

 

The company said in a bourse statement that it is presently difficult to assess the financial impact of the measures, adding that any updates will be disclosed in due course.

 

The company is taking all necessary steps to minimize the operating expenses of malls and commercial centers in order to mitigate the effects of the precautionary measures, which it said will not have a permanent impact on its business and future projects.

 

On the private sector’s support packages, Alandalus Property said it is working closely with relevant authorities to identify the support mechanism and feasibility.

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