The Abu Dhabi Department of Economic Development (ADDED) today launched the Land Incentives Programme - a key strategic business support initiative that forms part of the recently launched Abu Dhabi Industrial strategy.
This scheme comes as the Government of Abu Dhabi concluded an analysis exercise following active engagement and discussions with the private sector businesses. The programme will bring about extended ripple effects benefitting various aspects of the economy.
Manufacturing and industrial sub-sectors currently covered under the incentives scheme are logistics, food, energy, healthcare and bio-pharmaceuticals, information and communication technology (ICT), and heavy industry. Companies applying for Land Incentives 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 labor and task forces; and criteria that contribute to Abu Dhabi’s macro-economic roadmap.
Land Incentives will be offered with rates of as low as AED 5 per square meter, with beneficiaries also enjoying long-term contracts.
Commenting on the launch, His Excellency Mohamed Ali Al Shorafa, Chairman of ADDED, said: “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.”
H.E. Al Shorafa further explains, “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 behaviors, 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 Land Incentives scheme is being administered by the Industrial Development Bureau (IDB) of the Abu Dhabi Department of Economic Development. Candidate companies can apply via firstname.lastname@example.org.