The Abu Dhabi Department of Economic Development (ADDED) launched a land incentive programme as part of an initiative to support the emirate’s industrial strategy, on Wednesday.
Manufacturing and industrial sub-sectors such as logistics, food, energy, healthcare and bio-pharmaceuticals, information and communication technology (ICT), and heavy industry will be covered under the scheme.
Companies applying for land incentive privileges should demonstrate robust and active business plans; manufacturing techniques and output that employ sustainable business practices, technological advancements; Emiratisation and plans for further developing highly-skilled labour and task forces; and criteria that contribute to Abu Dhabi’s macro-economic roadmap, the authority said.
Land incentives will be offered with rates as low as Dh5 per square metre, with beneficiaries also enjoying long-term contracts.
This scheme comes as the government of Abu Dhabi concluded an analysis exercise following active engagement and discussions with the private sector businesses.
“As one of the world’s most active and thriving economic hotspots, Abu Dhabi continues to walk the talk and lead by example. Incentivising land use is a vital strategic subsidy for businesses, advancing their growth and development objectives, and enhancing their capital expenditures and cash-flow management. We listened to our private sector partners and added a relief benefit to our roster of support schemes already in place. Abu Dhabi prides itself on supporting global businesses and our investor community; our efforts help to balance the economic equation and ensure that businesses have a sustained growth path,” said Mohamed Ali Al Shorafa, Chairman of ADDED.
In June, Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, member of the Abu Dhabi Executive Council and Chairman of the Abu Dhabi Executive Office, launched the Abu Dhabi Industrial Strategy to strengthen the emirate’s position as the region’s most competitive industrial hub. The Abu Dhabi government will invest Dh10 billion across six transformational programmes to more than double the size of Abu Dhabi’s manufacturing sector to Dh172 billion by 2031 by increasing access to financing, enhancing ease of doing business, and attracting foreign direct investment.
The strategy, via the six programmes, will also create 13,600 skilled jobs, with a focus on Emirati talent, and boost Abu Dhabi’s trade with international markets, with a goal to increase Abu Dhabi’s non-oil exports by 143 per cent to Dh178.8 billion by 2031.
