Khalifa Economic Zones Abu Dhabi, known as Kezad, will develop a new SME centre to help smaller businesses expand their operations in the emirate.
The Dh112 million ($31 million) Kezad SME Hub will offer 175 micro-industrial units as well as office suites in a single model, to help SMEs ease logistics and costs, the company said on Thursday. It will be connected to the Khalifa Port and Etihad Rail networks.
The 25,260 square metre centre, located in Kezad A, is scheduled for handover before the end of this year.
“SME sector growth is a top priority for Abu Dhabi,” said Abdullah Al Hameli, chief executive of Economic Cities and Free Zones at AD Ports Group – which operates Kezad.
The centre “will serve as a launch pad for SMEs, nurturing and developing the industry with vital resources and support required to grow in a competitive market”.
The UAE is heavily focusing on boosting the role of SMEs in the economy, offering them benefits and incentives.
Last week, Dubai also unveiled a new programme to help SMEs get off the ground faster and in a more cost-effective manner.
The SME in a Box initiative will offer company founders a single entry point to access essential business services including licensing support, banking, digital payments, logistics, telecoms and other operational services, the emirate's Department of Economy and Tourism said.
The initiative is backed by 18 major private companies, including telecoms operator du, banks and financial services providers Emirates NBD, Abu Dhabi Islamic Bank and Network International, and logistics companies Aramex and DHL.
In Abu Dhabi, SMEs currently account for about 98 per cent of all businesses, employ 46 per cent of the workforce, and contribute 42.8 per cent to its non-oil GDP, according to official data. The sector is further expected to reach one million enterprises by 2030.
The new SME Hub will play a “crucial role by providing early-stage support for start-ups while also enabling established SMEs to scale their operations at competitive costs within an integrated industrial environment, bridging the gap between incubators and industrial market facilities”, said Kezad's chief executive Mohamed Al Ahmed.
Kezad said it had also signed an initial agreement with Emirates Growth Fund to support the development of UAE-based SMEs. The deal aims to help high-potential SMEs access resources and infrastructure to scale their operations.
Kezad is the largest operator of integrated and purpose-built economic zones in the UAE. Its infrastructure and services span 12 economic zones across Abu Dhabi, Al Ain and Al Dhafra Region, as well as an industrial and logistics zone in East Port Said, Egypt. The group also provides more than 40 staff accommodation complexes operated by Sdeira Group.
It currently has 2,300 investors from 17 industrial sectors.
