Abu Dhabi Ports has frozen rent escalation during 2021 for all businesses in its Industrial Cities and Free Zone cluster to provide further relief measurements and boost the Abu Dhabi economy.
The effective freeze on rent for its Khalifa Industrial Zone Abu Dhabi (KIZAD) and ZonesCorp follows several measures made by Abu Dhabi Ports throughout 2020.
It will benefit more than 1,400 companies within the Abu Dhabi Ports Industrial Cities and Free Zone Cluster.
Abdullah Al Hameli, head of the Industrial Cities and Free Zone Cluster at 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.
“We are working in line with the Abu Dhabi Government’s efforts to extend relief to businesses by ensuring our customers retain their competitive advantage.”
In 2020, ZonesCorp customers were exempted from ‘Musataha’ contract registration, utility payments based on actual consumption and application and documentation fees,
An additional 25% price reduction is also being provided for new ZonesCorp investors.
Simultaneously, relief packages with up to 36% savings for Free Zone businesses and SMEs were announced for KIZAD.
The package offers both existing and prospective customers savings on new registrations and renewals, along with a waiver on security deposits.
Abu Dhabi Ports made the decision to extend its relief measures in order to continue supporting businesses in Abu Dhabi and help the SME sector grow within the emirate.
Rent deferment, a freeze on late payment penalties and an exemption rom Tawtheeq fees were previously mandated for customers.
New investors will be able to take advantage of new relief packages that include waiving of applications fees, a 25% reduction in land lease rates for the first year, an exemption on Tawtheeq fees and a relinquishing of land fixing fees.