Measures are part of Abu Dhabi Ports’ relief effort for investors and customers in response to the global economic slowdown brought on by the coronavirus pandemic
In response to the outbreak of COVID-19, Abu Dhabi Ports has announced a relief package consisting of several initiatives designed to address concerns of its customers across its industrial and economic zone subsidiaries.
According to a statement, the package includes a three-month rent deferment for Q2, a freeze on late payment penalties and exemption from Tawtheeq fees. It also includes measures for new investors including waiving of applications fees, a 25% reduction in land lease rates for year one, an exemption on Tawtheeq fees and cancellation of land fixing fees.
“In line with the Government’s effort to extend relief to businesses during these exceptional economic circumstances, Abu Dhabi Ports is taking necessary steps to help our industrial and economic zone customers overcome the current challenges brought on by the spread of coronavirus. Supporting customers in maintaining their competitive advantage is at the core of Abu Dhabi Ports’ decision making,” said group CEO Captain Mohamed Juma Al Shamisi.
The relief measures follow a 25% waiver on rentals for new customers at Khalifa Industrial Zone Abu Dhabi (Kizad).
“The steps we have announced reflect our commitment to enhancing the growth and stability of our customers and tenants in line with the government directives. We remain united and resolute in facing our difficulties together, confident in the belief that we will emerge from this crisis better and stronger,” added Al Shamisi.