Abu Dhabi Ports puts rent increases on hold in free zones

The ports operator said the move will benefit more than 1,400 companies

Abu Dhabi Ports has provided various relief measures for businesses over the last year. Courtesy Abu Dhabi Ports

Abu Dhabi Ports said it will halt all rent increases this year for businesses based in industrial areas as part of a new tranche of relief measures.

The move, which will apply Khalifa Industrial Zone Abu Dhabi (Kizad) and ZonesCorp's Industrial City clusters, will benefit more than 1,400 companies, the ports operator said on Sunday.

Kizad and ZonesCorp, the largest operator of purpose-built economic zones in the UAE, make up Abu Dhabi Ports’ Industrial Cities and Free Zone portfolio.

“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," said Abdullah Al Hameli, head of Abu Dhabi Ports' Industrial Cities and Free Zone business.

"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."

Abu Dhabi Ports, part of state holding company ADQ, has provided various relief measures for businesses over the last year to help them cope with the pandemic. These have included rent deferments, a freeze on late payment penalties and an exemption from Tawtheeq fees.

The ports operator also rolled out new measures including the cancellation of application fees and a reduction in land lease rates for new businesses looking to set up in its zones.

The company is also providing a 25 per cent price reduction for new investors.

Last year ZonesCorp customers were exempted from ‘Musataha’ contract registration, as well as application and documentation fees. Kizad customers were provided with relief packages offering savings of up to 36 per cent, including reductions in registration and renewal fees and a waiver on security deposits.