Dubai’s largest publicly-traded developer Emaar Properties PJSC cut staff salaries across all of its businesses as the coronavirus pandemic halts projects and weighs on the emirate’s property market. The changes took effect on April 1 across all levels and Emaar Dubai entities until further notice, according to a letter sent by Chairman Mohamed Alabbar to employees and seen by Bloomberg. Chairman’s salary: 100 percent reduction Senior management: 50 percent reduction Middle management: 40 percent reduction Junior staff: 30 percent reduction There will be no reduction for support staff working full time; staff not currently operating/on leave will receive full accommodation and medical as well as 15 percent of their cash salary Other entities to receive 60 percent of full salary A representative for Emaar didn’t immediately respond to calls and an email seeking comment. Emaar is among developers in the Middle East’s business and logistics hub being forced to rethink projects as the pandemic and oil-price collapse squeezes finances. The coronavirus is aggravating a long property slump in Dubai, where oversupply and economic uncertainty have pushed down prices for years. The developer has already suspended the construction of parts of its Dubai Creek harbor project and said three of its listed companies will not pay dividend for 2019 in “view of the current circumstances.” Read more: Coronavirus: Emaar halts construction of 77-story tower in Dubai Emaar mulls raising funds against Burj Khalifa observation decks اي استفسار أو طلب خاص بخصوص التوظيف يمكنك التواصل مع الابميل التالي – مجير الموقع : alturky28@gmail.com لطلبات التصميم او البرمجة التواصل مع : hamzalaabar@gmail.com