Lootah Real Estate, the parent company of Senaeyat, has pledged its support to the Dubai Industrial Strategy 2030 with a 49-year land lease agreement in the Dubai Industrial Park; one of the largest industrial hubs in the region. This long-term agreement will see Senaeyat further increase its presence in the area, adding value and helping to achieve the realisation of the Dubai Industrial Strategy 2030.
The Dubai Industrial Strategy 2030 was launched by Sheikh Mohammad in 2016 and is designed to help cement the regions position as “an international hub for knowledge-based innovation and sustainable Industrial activities”. Six sectors are being targeted to help lead the economic transformation; Aerospace, Maritime, Pharmaceuticals and Medical equipment, Food and Beverages, Aluminium and Fabricated Metals and Machinery and Equipment. These sectors were chosen due to their importance not only to the Industrial Strategy and their potential future growth, but also due to their role in the Dubai Plan 2021.
From these six sectors, 75 strategic initiatives have been identified which collectively will transform Dubai by 2030; helping to increase total GDP by 160 Billion Dirhams, increase the industrial sector by 18 billion Dirhams, create more than 27,000 specialized jobs and increase research and development expenditure by 700 million Dirhams.
Despite still being over a decade from completion, the strategy is well underway and the logistics sector, of which Senaeyat is part of, is on track to hit an incredible contribution to GDP of 8% by 2021 – up from the current 5.4%. This incredible growth is thanks to the many free zones in Dubai as well as the huge investments being made in infrastructure.
These investments are just part of a number of government regulations that have been designed to encourage businesses to invest in the region and begin trading – including 100% import and export tax exemptions and 50 years corporate tax exemption. Lootah’s investment within the Dubai Industrial Park has been strategically planned to allow small and medium sized business, no matter where they originate from, the opportunity to join this flourishing business community.
Located just a short distance from the Al Maktoum Airport and Jebel Ali Port, the Dubai Industrial Park is also located close to the Sheikh Mohammad Bin Ayed and Emirates roads – making it a prime logistical location to reach every major global hub from. Whilst a premium fee is typically expected for such prime real estate, as the first lease-to-own warehouse provider in the region Senaeyat is helping businesses move in for a fraction of the price.
Rather than needing to find vast amounts of capital to purchase or build their own facility, with Senaeyat companies can enjoy a custom built, world-leading facility for just a 2% down payment. Regular repayments over a ten year period will see then transfer ownership from Senaeyat to the tenant.
Combined, these options make Dubai a highly inviting prospect. So if you’re looking to take advantage of the unrivalled opportunities the region offers get in touch with Senaeyat today!