New office premises and warehouses planned to keep up with rising demand, set for 2020 completion
Construction has started on plans to expand Umm Al Quwain Free Trade Zone amid rising demand from new clients.
A groundbreaking ceremony has taken place for new office premises and warehouses to keep up with "rapidly rising demand".
The facilities are scheduled to be completed by March 2020, a statement said.
It added that the new free zone location will span across a total area of two million square metres.
Sheikh Khalid Bin Rashid Al Mu’alla, chairman of Al Quwain Free Trade Zone (UAQ FTZ), said: "We are pleased to kick start the ambitious expansion project to facilitate and boost the growth of the investors who have been showing enormous trust and confidence in the free zone since its inception.
"The new free zone location is poised to become a strategic economic hub and is conveniently located near the highly accessible state highway, Sheikh Mohammed Bin Zayed road, connecting UAQ with the emirates of Sharjah, Dubai and Abu Dhabi. Proximity to two international airports as well as multiple seaports, make it logistically ideal."
He added that UAQ FTZ plans to create a sustainable industrial smart city, where small and medium enterprises, Fintech start-ups, R&D centres, logistics, outsourcing and alternative power related industries can flourish.
"We are building a smart city where its residents will be able to ‘walk to work’. The city will function as an independent business and industrial hub, with amenities for families and employees such as schools, hospitals, hotels, shopping malls and even an art and exhibition centre,” he said.