Abu Dhabi Ports has announced a freeze on rent rises during 2021 for all businesses in its Industrial Cities and Free Zone cluster, in a move aimed at providing further relief from the economic effects of the pandemic to its customers in KIZAD and ZonesCorp. It is expected that the rent escalation freeze will benefit more than 1,400 companies within its logistics clusters.
Abdullah Al Hameli, Head, Industrial Cities and Free Zone Cluster, Abu Dhabi Ports, said: “We are taking steps to help customers remain competitive during this exceptional economic climate and overcome the challenges brought on by COVID-19. We are confident that this measure will help fast track the robust economic recovery that the Government is making efforts to achieve.”
At the same time, new investors in the Freezone cluster will also be able to take advantage of relief packages. These include the waiving of application fees, a 25 per cent reduction in land lease rates for the first year, an exemption on Tawtheeq fees and a relinquishing of land fixing fees.