Abu Dhabi Ports has announced a freeze on rent escalation during 2021 for all businesses in its Industrial Cities and Free Zone cluster in a move aimed at providing relief to its customers in KIZAD and ZonesCorp.
The rent escalation freeze for all of 2021 will benefit more than 1,400 companies within Abu Dhabi Ports freezone cities.
Abdullah Al Hameli, Head, Industrial Cities and Free Zone Cluster, Abu Dhabi Ports said: “Abu Dhabi Ports is taking steps to help its customers remain competitive during this exceptional economic climate and overcome the challenges brought on by COVID-19.
“The freeze in rent escalation we have announced reflects our commitment towards enhancing the growth and stability of our customers and tenants and falls in line with the government directives to stimulate future growth for the UAE’s economy. We are confident that this measure will help fast track the robust economic recovery that the Government is making efforts to achieve,” he added.
Last year ZonesCorp customers were exempted from ‘Musataha’ contract registration, utility payments based on actual consumption, and application and documentation fees. The company is also providing a 25 percent price reduction for new investors.
Simultaneously, Khalifa Industrial Zones Abu Dhabi (KIZAD) announced last year relief packages with up to 36 percent savings for Free Zone businesses and SMEs. The package offers both existing and prospective customers savings on new registrations and renewals, along with a waiver on security deposits.
Abu Dhabi Ports, part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, has extended relief measures to continue supporting businesses in Abu Dhabi and help the SME sector grow within the emirate.
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