Abu Dhabi launches land incentive scheme to drive industrial growth

Companies applying for land award privileges are expected to demonstrate robust and aggressive business plans; adopt sustainable business practices, technologically advanced manufacturing techniques and outputs; plans to emirate and further develop a highly skilled workforce and work force; Criteria and criteria for the Abu Dhabi Macroeconomic Roadmap.

Land incentives will be as low as AED 5 per square metre, and beneficiaries will also enjoy long-term contracts.

The plan comes as the Abu Dhabi government has completed an analytical exercise following active engagement and discussions with private sector businesses.

“As one of the most dynamic and prosperous economic hotspots in the world, Abu Dhabi continues to walk the talk and lead by example. Incentivizing land use is an important strategic subsidy for businesses that boosts their growth and development goals and strengthens their capital spending and Cash flow management. We listened to our private sector partners and added relief benefits to our roster of support schemes already in place. Abu Dhabi prides itself on supporting global businesses and our investor community; our efforts Helps to balance the economic balance and ensure businesses have a path to continued growth,” said ADDED Chairman Mohamed Ali Al Shorafa.

In June, Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Executive Office, launched the Abu Dhabi Industrial Strategy to cement the emirate’s position as the most competitive industrial hub in the region. The Abu Dhabi government will invest AED10 billion through six transformational plans to more than double the size of Abu Dhabi’s manufacturing sector by 2031 by increasing access to financing, improving ease of doing business and attracting foreign direct investment to reach 172 billion dirhams.

Through six programmes, the strategy will also create 13,600 skilled jobs, focus on Emirati talent, and boost Abu Dhabi’s trade with international markets, with the goal of increasing Abu Dhabi’s non-oil exports by 143% to AED178.8 1 billion by 2031.