Abu Dhabi Granted a One-Year Lease Exemption to 1,200 Economic Activities

About 4,060 economic activities were licensed and regulated by the Abu Dhabi Department of Economic Development (ADDED) by the end of 2021. Abu Dhabi has announced grants of a one-year lease exemption for 1,200 economic activities, which is 29.5% of the total number of businesses. This step will ensure the ease of doing business and entrepreneurship in the emirate.

To obtain an economic license in the UAE, businesses should get a lease agreement. The new exemption provides them with an opportunity to focus on their business activities and choose the most convenient location.

As the Abu Dhabi Business Centre (ADBC), part of the Department of Economic Development of Abu Dhabi stated, such a step is a part of improving the business environment and easing the process of doing business from the moment of its creation. The Executive Director of ADBC, Mohammed Munif Al Mansouri, said that this new initiative will help businesses to take advantage of growth opportunities in the Emirati capital.

In recent months ADDED has launched several initiatives to ease the process of doing business such as slashing business setup and renewal fees by over 94% and reducing over 71% in business set-up requirements. This led to a significant increase in 21.5% of the number of new economic licenses, and an increase of 15.8% in their renewals, which is proof that Abu Dhabi is highly attractive in terms of doing business.

The Emirati capital is an important economic hub where one can find different classifications of commercial property which include office, retail, industrial spaces, as well as showrooms, land and hospitality options. Office spaces are considered the most in-demand commercial option.

If you are wanting to do business in Abu Dhabi and are looking for a commercial property to rent, Metropolitan Capital Real Estate company is always ready to help you in choosing the right option for you, which will correspond to your needs and budget.