Under the directives of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Chairman of the Executive Council, the Executive Council of the Emirate of Abu Dhabi has issued Resolution No. (127) for the year 2019 to amend the decision of the President of the Executive Council No. (49) The Abu Dhabi Municipality has signed a Memorandum of Understanding on the registration of Maspatah contracts for all projects in the Emirate of Abu Dhabi, facilitating and encouraging investment and reducing the cost of projects.
At the end of last year, His Highness Sheikh Mohammed bin Zayed Al Nahyan directed the Executive Committee of the Council under the chairmanship of His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Deputy National Security Advisor, to re-examine the conditions of all projects in the Emirate of Abu Dhabi in order to attract long-term investors who wish In establishing long-term investment projects that support local development and contribute to diversifying the economic base and achieving sustainable development.
According to the decision, the registration fee for the Maspatah contracts will be reduced from 4% of the total revenues to 2% or 1%, or exempted according to the classification of the areas, whether vital or developing, and according to the type of allocation of the land, whether commercial, investment or recreational, or public areas, Or other, with a financial ceiling for service, education and health projects up to a maximum of AED 500,000 and an industrial maximum of AED 1 million, which would encourage investors and stimulate entrepreneurship.
The decision comes as part of a series of incentive packages offered by the Abu Dhabi Government to investors and encouraging the establishment of projects in diverse sectors that support the local economy and create new jobs.
According to the decision, the rent for the land allocated by the government will be directly to the beneficiary. The rental value of the square foot will be 75 fils in Abu Dhabi City, 50 fils in Al Ain City and 25 fils in Al Dhafra area.
The decision gave tenants of industrial lands and land leased directly from the government the right to lease them to others subject to obtaining the approval of the concerned municipality. All contracts should be registered in accordance with the legislation in force. Leased from the Government of the value of each contract, not less than 5% and not more than 10%.
In addition, the decision exempted the private schools whose tuition fees are less than AED 20,000 from the registration fee of the Musataha contract according to the financial statements of the Department. Education and knowledge.