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Coronavirus: Strong resolve and ability to adapt will allow UAE to bounce back from COVID19 pandemic – Lootah CEO

Saleh Abdullah Lootah says measures taken by UAE will be a model for other countries to follow

The UAE will be on the first nations in the world to bounce back from the effects of the coronavirus pandemic that has swept the globe, thanks to its strong resolve and ability to adapt, the CEO of a leading Dubai-based real estate developer has predicted.

According to Saleh Abdullah Lootah, CEO of Lootah Real Estate Development (Lootah), these effective traits have been demonstrated through the initiatives and measures implemented by the country during the crisis. They include building one of the world’s biggest testing laboratories, being in a position of global leadership when it comes to conducting mass testing, promptly releasing a series of economic stimuli and sending humanitarian aid to a number of countries affected by the virus.

“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.

One key approach is the measures the UAE has taken to ensure 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.

He also commended the UAE’s decisive action to boost its support to businesses through various landmark economic responses, including a $69.69 billion stimulus from the Central Bank. He pointed out that this would a tremendous help towards aiding business continuity and creating market stability.

The UAE has also 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 also set the bar high on the global scale in terms of massive testing. As of April 22, 2020, over 790,000 tests have been undertaken since the dawn of the disease, screening around 79,875 people per million. It is currently fourth highest—after Iceland, Faroe and Falkland Islands—in the world in terms of number of tests performed per one million 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 concluded.

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