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The Abu Dhabi Department of Economic Development (ADDED) has launched a land incentive scheme to provide strategic support to businesses under the recently launched Abu Dhabi Industrial Strategy.
READ: Abu Dhabi Industrial Strategy launches, AED10 billion for six projects
According to the Abu Dhabi Media Office, the manufacturing and industrial sub-sectors currently covered by the incentive scheme include logistics, food, energy, healthcare and biopharmaceuticals, information and communications technology, and heavy industry.
Companies applying for the Land Award Privilege must demonstrate a robust and active business plan; adopt sustainable business practices, technological advancements, Emiratized manufacturing technologies and outputs, and plans to further develop a highly skilled workforce and workforce; and contribute to Abu Criteria for the Dhabi Macroeconomic Roadmap.
Land incentives will be offered at AED 5 per square metre, and beneficiaries will also receive long-term contracts.
Mohamed Ali Al Shorafa, Chairman of ADDED, said: “Incentivizing land use is an important strategic subsidy for businesses that promotes their growth and development goals and strengthens their capital expenditure and cash flow management. We have listened to our private sector partners. , and added relief benefits to our roster of support programs already in place. Abu Dhabi prides itself on supporting global businesses and our investor community; our efforts help balance the economy and ensure businesses have a path to continued growth. “
Al Shorafa added: “Previously, initiatives such as ‘rent rebates’ approved at the height of the pandemic have helped Abu Dhabi’s businesses weather this storm well. While the pandemic has upended traditional professional behaviour, with the UAE With its agility and a very rewarding ecosystem of public-private business partnerships, Abu Dhabi’s resilient businesses and entrepreneurs have maintained cautious growth during these turbulent times.”
In recent news, the Competitiveness Office of Abu Dhabi (COAD), which is part of the Abu Dhabi Department of Economic Development (ADDED), has launched the Abu Dhabi Innovation Incubator Programme to support entrepreneurs.
The incubator program is part of 14 initiatives under Innovation Abu Dhabi, launched in May.
read: ADDED in Abu Dhabi launches innovation incubator programme
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