The Dubai South Free Zone has announced the provision of a set of incentive packages to mitigate the effects of the consequences of the current exceptional circumstance, which the UAE and the world are going through, as part of the free zone’s commitment to continuously enhancing and adapting its business-friendly environment, and continuing to work to meet the needs of all of its partners and customers.
And "Dubai South" said in a statement yesterday that its step comes within the framework of its keenness to implement the leadership vision in relation to stimulating the business sector and providing all possible support to its institutions.
Competitiveness and attractiveness
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Civil Aviation Authority and Chairman of Dubai Airports Corporation said: “Dubai South is proud of its affiliation with the overall economic system of the Emirate of Dubai, which requires us to support its competitiveness and enhance its attractiveness, to ensure its ability to attract more domestic and foreign investments. Direct ».
His Highness added: “Since we see in our current dealers the most important of our assets, our focus is on providing them with all the factors of success in these exceptional times, as well as after exceeding them, so that they can continue to achieve their goals and play their role in supporting the national economy and GDP.”
His Highness continued, “The announced incentive packages represent an aspect of our responsibility, and our eagerness to combine our efforts with the initiatives and decisions issued by our government, so that our emirate remains the best choice for doing business easily, and to maintain its prominent position in all global performance indicators.”
Economic incentives
Among the most important incentives that Dubai South will provide to customers and companies in the free zone in support of business continuity: Flexible payment plans for companies, with an easy installment system, exempting tenants from fines related to delaying renewal, and also those related to canceling rental contracts and licenses, and dealers will benefit from a discount rate 20% on license renewal fees.
Free license
Dubai South also announced the provision of a one-year free commercial license to new customers in the aviation, logistics, e-commerce and business park sectors.
The field will also be available for business complex customers to apply for deferral rent for a period of up to six months, as each case will be studied to take the appropriate decision.
As for the "Free Zone Business Center", dealers will receive a reduction of up to 25% of the renewal fees for contracts due until October 2020, in addition to the flexibility to pay the rental fees in four annual installments.
Individuals and new companies looking to establish their business in the business center will be able to get a reduction of up to 25% of the rental fee.
The Dubai government announced, in the middle of last March, an economic incentive package worth 1.5 billion dirhams, with the aim of supporting companies and the business sector in Dubai, and enhancing financial liquidity, and mitigating the effects of the exceptional economic situation the world is witnessing, mainly due to the health challenge of an outbreak Corona epidemic emerging (Covid-19).
Incentives for customers and companies
- Flexible payment plans for companies with easy installment system.
Exempting tenants from fines related to delaying renewal and canceling rental contracts and licenses.
20% discount on license renewal fees.
A one-year free commercial license for new customers in the aviation, logistics, e-commerce and business park sectors.
Submit requests to postpone the rent for a period of up to six months in the business complex.
- A reduction of up to 25% of the renewal fees for contracts due until October 2020 at the Free Zone Business Center.
Flexibility to pay rent fees in four annual installments.
- A reduction of up to 25% of the rental fee for individuals and new companies looking to establish their business in the business center.
"Dubai South" .. an economic city
The government of Dubai launched "Dubai South" in 2006, extending over a huge area of 145 square kilometers, and is designed in an integrated manner to achieve the happiness of individuals.
The city is considered the main modern development project in the emirate, to support the main pillars of the "Dubai Plan 2021". It is expected that the city will host up to one million people in an integrated economic environment, to support all types of businesses and industries, and provide 500 thousand jobs.
Al Zafin: Enhancing Corporate Liquidity
"These incentive packages are complemented by the measures announced by the Dubai government and its continued efforts to reduce the burden on the business sector in the emirate, and it also helps to enhance the financial liquidity of companies," said Khalifa Al Zafin, CEO of Dubai Aviation City and "Dubai South".
He stressed that this support would enable companies to preserve their resources and employees, to be fully prepared and ready to continue their operations, especially with the start of easing precautionary measures and measures and gradually returning to normalcy.