ADDED Announces Land Incentives Programme in Abu Dhabi
In keeping with the recently released Abu Dhabi Industrial Strategy, the Abu Dhabi Department of Economic Development (ADDED) has launched the Land Incentives Programme to provide strategic support to businesses.
According to the Abu Dhabi Media Office, logistics, food, energy, healthcare and bio-pharmaceuticals, information and communication technology, and heavy industries are currently covered by the incentives scheme.
Companies applying for land incentives must demonstrate strong and active business plans; manufacturing techniques and output that use 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 macroeconomic roadmap.
Land incentives will be offered at rates as low as Dhs5 per square metre, with beneficiaries also receiving long-term contracts.
Mohamed Ali Al Shorafa, chairman of ADDED, said:
“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.
“Previously, initiatives such as the ‘Rental-Rebate’ exercise sanctioned during the peak pandemic phase helped Abu Dhabi-based businesses weather the storm well. Though the pandemic upended conventional professional behaviours, Abu Dhabi’s resilient businesses and entrepreneurs sustained cautious growth during this volatile period thanks to the emirate’s agility and highly beneficial public-private business partnership ecosystem.”
The Competitiveness Office of Abu Dhabi (COAD), which is part of the Abu Dhabi Department of Economic Development (ADDED), has just launched the 'Abu Dhabi innovation incubators initiative' to assist entrepreneurs.
This incubator programme is one of 14 programmes under the umbrella of 'Abu Dhabi Innovates', which was launched in May.
Source: Gulf News