Masdar City aims to grow its tenant base nearly four-fold by 2020 as the free zone and investment zone is pushed as a site for private sector development and diversifying the economy.
The plans include an expansion of the net leasable area – the area minus the hallways, stairwells, lobbies and utility rooms – within the free zone by 32 per cent every year over the next four years. Masdar City is the capital’s sustainable urban development that houses Masdar Institute of Science and Technology, the world’s first university focused on advanced energy and sustainable technologies.
“As both a free zone and investment zone, Masdar City offers both flexibility and scalability to prospective tenants and investors, catering to micro businesses and large-scale corporations alike,” said Ahmed Baghoum, the director of Masdar Free Zone. He said that about 35 per cent of Masdar City’s planned built-up area will be completed within the next five years, and all existing buildings and those under construction are fully leased.
“Masdar City’s transparent and business-friendly regulations, strategic location next to Abu Dhabi International Airport, and unique positioning as an innovation ecosystem providing access to education, R&D, clean technology and human capital are an attractive proposition to both public- and private-sector organisations looking to set up in Abu Dhabi and the region.”
The free zone also offers a one-stop shop service to streamline administrative tasks such as government registrations and visa processing.
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