Sunday, January 17, 2021

Abu Dhabi Ports expands relief measures with halt in rent increases in 2021

The freeze in rent increases will benefit more than 1,400 companies within ADP’s Industrial Cities and Free Zone cluster.

“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,” said Abdullah Al Hameli, head, Industrial Cities and Free Zone cluster, ADP.

“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.

Several other relief measures were previously announced for customers, including rent deferment, a freeze on late payment penalties, and an exemption from Tawtheeq fees. At the same time, 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.

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