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Eye of Riyadh
Eye of Riyadh
Business & Money | Thursday 19 March, 2020 8:00 am |
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KIZAD Offers 25% Reduction in Land Lease Tariff

Middle East’s Largest Industrial Zone Implements Abu Dhabi Executive Council Resolution to support new companies

 

  Khalifa Industrial Zone Abu Dhabi (KIZAD), a subsidiary of Abu Dhabi Ports, today announced that it has implemented the 25 percent reduction in land lease tariff for new contracts as announced by Abu Dhabi Executive Council on March 16.

The tariff reduction will help companies setting up in KIZAD a competitive advantage by lowering initial investment, and subsequently spur economic activity in the emirate of Abu Dhabi. The Executive Council initiative, which expands on the incentives offered under the Ghadan 21 programme, is aimed at providing relief and stimulus under the challenging global economic conditions.

Captain Mohamed Juma Al Shamisi, Group CEO of Abu Dhabi Ports, said: “The 25 per cent reduction in the land lease tariff supplements the competitive advantage KIZAD already has to offer businesses looking to establish their base of operations here. We value long-term partnerships with our customers, and we will continue to bring real, measurable benefits to the industry through the implementation of initiatives as well as the incentives extended by the Government of Abu Dhabi to help boost the economy of the emirate and the UAE.”

Land lease tariff reduction is one of the many incentives announced by the government to stimulate the economy. Other benefits include exemptions till the end of the year on commercial real estate registration, subsidized water and electricity for commercial and industrial activities, an AED 3 billion allocation for SME credit guarantee programme, waiver of performance guarantees of up to AED 50 million for startups, a new committee to review lending options for local companies, and waiver of industrial and commercial penalties.

This is not the first time KIZAD has implemented sweeping, business-friendly measures designed to stimulate investment and enhance the competitive advantage for its customers.

Last year, KIZAD made 75 of its services available to customers free of charge, and cut administrative registration fees in line with an Abu Dhabi Executive Council resolution.

In early 2019, KIZAD implemented an electricity tariff incentive programme (ETIP) introduced by the Industrial Development Board of the Abu Dhabi Department of Economic Development. This programme saw a marked reduction in energy prices for the most productive companies operating in the zone. Under the terms of the ETIP programme, eligible industrial companies can significantly reduce their expenditure on energy in exchange for their contribution to the economy.

  • ENDS -

 

About Abu Dhabi Ports:

 

Established in 2006, Abu Dhabi Ports is a global trade enabler strategically based in the capital of the United Arab Emirates. It is the region’s premier facilitator of logistics, transport, and trade, bridging Abu Dhabi with the world. Abu Dhabi Ports owns and manages 11 ports and terminals in the UAE and Guinea.

Abu Dhabi Ports’ largest subsidiary is Khalifa Industrial Zone Abu Dhabi (KIZAD), the integrated trade, logistics, and industrial hub, with the flagship, deep water Khalifa Port as its maritime gateway.

Additional subsidiaries of Abu Dhabi Ports include: Abu Dhabi Marine Services (SAFEEN), Maqta Gateway, Abu Dhabi Maritime Academy, Abu Dhabi Terminals (ADT), and Abu Dhabi Cruise Terminal.

For more information, please visit: adports.ae

 

Follow us on twitter @AbuDhabiPorts 

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About KIZAD

Established in 2010 and operational since 2012, Khalifa Industrial Zone Abu Dhabi (KIZAD) is a subsidiary of Abu Dhabi Ports. Strategically located between Abu Dhabi and Dubai - with the deep-water Khalifa Port as its maritime gateway - KIZAD is Abu Dhabi’s integrated trade, logistics and industrial hub facilitating sustainable growth in metals, polymers, food, automotive, water and oil and gas. KIZAD is one of the world’s largest industrial zones, spanning across 410 square kilometres.

For more information, please visit: kizad.ae

 

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