The Umm Al Qaiwain Industrial City Authority has completed the construction of the infrastructure of the Umm Al Qaiwain Industrial City in Umm Al Thoob, at a total cost of $15.79 million, it has been announced.
According to a WAM report, the UAQ Industrial City project is part of the UAQ government’s strategic development plan for the emirate, and is aimed at advancing its economy, create an attractive investment environment and support the investment sector through creating partnerships with investors.
Eng Sheikh Matar bin Humdha, acting executive director of the Authority, stated that the 70 million square foot industrial city has attracted a number of investors due to the facilities it provides, as well as the UAQ government’s efforts to create a competitive business environment, through gathering related industries in the logistical support and operations sectors in one area, to support industry in the emirate and to achieve investor goals.
The industrial city is strategically located on the intersection between Sheikh Mohamed bin Zayed Street and Emirates Street. It’s proximity to harbours, airports and major roads connecting to other emirates in the country make it attractive to many investors, the report added.
In 2018, a total of 80% of the city’s land was recorded as rented, including 91% of its industrial space and 97% of its warehouse space, while 55% of land for workers’ residences and 22% of commercial space was also rented, with the majority on 20-year contracts, due to the facilitations offered by the authority, including six months of free rent until the start of the project.