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Abu Dhabi, Al Ain to host new projects that target private sector investors
ZonesCorp is set to announce two new and modern investment projects in Abu Dhabi and Al Ain at Cityscape Abu Dhabi 2019.
The largest real estate exhibition in the UAE capital will run from 16 to 18 April at the Abu Dhabi National Exhibition Centre (ADNEC).
Covering a total area of two million sq m, the new projects will support an extensive range of industrial and commercial activities. The first project will be located in Abu Dhabi’s ICAD Zone 3 and include the ICAD Business Park occupying 1.1million sq m, ICAD Gate spanning 470,000 sqm, and a 234,000 sqm prefabricated factory project. The second project – Al Ain Investment Complex in Al Ain Economic Zone – will extend over a total area of 155,000 sqm.
The new projects will boast world-class infrastructure, accessibility and connectivity in strategic locations that comprise more than 650 industrial and commercial projects, and offer preferential local and international market access for investors seeking world-class industrial zones that combine excellent services within a mixed-use development.
“It is a big win for consumers who are now, more than ever, spoilt for choice,” said Mesab’s Tariq Allan. “Property prices are now below construction costs so, regardless of what happens in 2019, buying in this market represents fabulous intrinsic value.”
Each of the projects will include an incubator and specialized units equipped to host industrial activities that cater to the needs of small and medium-sized enterprises (SMEs).
The projects set to be launched at ICAD 3 will enjoy a strategic location with easy access to highways. Once completed, the projects will embrace integrated industrial cities featuring commercial and residential complexes, shopping and entertainment centers, medical centers and spacious car parks, in addition to
organic food centers.
The new projects will offer private sector investors lucrative investment opportunities with the option to rent land in special economic zones to develop and operate or to re-rent to other investors, in addition to renting offices, warehouses and showrooms that cater to the needs of SMEs and provide a high cost-benefit ratio as well as increased ROI.
At Cityscape Abu Dhabi, held under the patronage of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Mesab is planning to launch a new residential property – the 35-storey Park View – Al Reem, featuring 128 two and three-bedroomed apartments and duplexes. The company is targeting buyers of all nationalities with Allan saying recent government incentives, including the 10-year residency visa and five-year retiree visa have revitalised the market.
His Excellency Saeed Eisa Mohammed Al Khyeli, Director General of ZonesCorp, said: “ZonesCorp’s strategic planning and objectives aim to attract further local and
international investments in line with Ghadan 21, the AED50 billion three-year development program launched in 2018 by His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The initiative focuses on four main tenets – business and
investment, society, knowledge and innovation, and lifestyle.”
He added: “ZonesCorp is the ideal partner for local and international investors in the private sector. Our new projects offer immense potential in terms of market access and growth opportunities for businesses and innovators looking to establish or expand their presence in Abu Dhabi’s rapidly growing non-oil sectors, including ventures led by Emiratis as well as SMEs. We will provide facilities, logistical support and a full range of world-class services based on our understanding of investor requirements throughout the establishment, construction and operational phases of these projects. In addition, we will ensure that participating businesses receive advice and other resources as part of our commitment to get these projects off to a robust start as ideal destinations for investors.”
In addition to its new investment clusters, ZonesCorp has launched the second phase of Rahayel City, a world-class integrated auto hub located at the nexus point of three of Abu Dhabi’s main urban centers – Khalifa City, Shakhbout City and Mohammed Bin Zayed City. Spanning 12.3 sq km, Rahayel City will serve as a focal point for automotive manufacturers, distributors, new and used cars showrooms and auction marts, service providers and dealers operating in the UAE capital in line with Abu Dhabi government’s mandate to advance the strategic development of the automotive industry in the emirate.
“Government initiatives and regulations have led to greater opportunity for investors,” explained IMKAN’s Walid El Hindi. “These include 10-year residency visas, five-year retiree visas and the decision to allow 100 per cent foreign ownership of onshore companies. Market dynamics have shown us that investors looking towards Abu Dhabi have strong liquidity and retain interest in long-term investments. This complements IMKAN's long-term outlook, as our projects span 10-15 years, meaning we have a positive perspective for the future of Abu Dhabi's real estate market. Another boost for the market is the careful planning the government has in place to turn the city into a cultural hub.
Scheduled for completion in Q1 2020, Rahayel City is the first smart economic zone in a dynamic environment that allows automotive businesses to thrive while enhancing the shopping and service experience of customers and providing a diverse and attractive range of related investment opportunities. Designed in collaboration with experts in the automotive industry, the city will feature serviced lands and smart buildings that meet the needs of investors and customers alike.
Rahayel City will also provide the full spectrum of services related to automotive commercial activities, including licensing and maintenance by modern workshops that comply with the highest global technical and operational standards, in addition to specialized training programs with attested certificates.
ZonesCorp oversees 50 sq km of developed areas in Abu Dhabi City and Al Ain, in addition to ambitious plans to develop new areas in Al Dhafra. The organization’s economic zones include 650 industrial facilities in different sectors and 28 fully serviced labor cities built according to the highest international standards. With
an investment portfolio valued at over AED70 billion, ZonesCorp is making a major contribution to the successful growth of Abu Dhabi’s non-oil economy in
line with the emirate’s 2030 vision.
To register or for more information, visit www.cityscapeabudhabi.com
About Cityscape Abu Dhabi:
Cityscape Abu Dhabi is the leading property investment and development event in the nation’s capital bringing together key industry decision makers, local, regional and international investors, homebuyers, developers, government and investment authorities, architects, designers, consultants, and senior industry professionals. The event is renowned for being the barometer of the capital’s property sector, responsible for fostering partnerships and creating opportunities that drive development and investment across the country through its exhibition, conference and other content features that take place during the three-day event.
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