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Dubai South waives first-year licence fees for new customers

Dubai South waives first-year licence fees for new customers

It has also offered a 20 per cent reduction on licence fee renewals as part of its economic stimulus package

Dubai South Free Zone on Sunday announced an economic stimulus package to help individuals and companies with incentives such as easy instalment schemes as well as waivers of penalties on late renewals, and cancellations of contracts and licenses in order to help them deal with the negative economic impact of the Covid-19 crisis.

Licence fee renewals have been reduced by 20 per cent, while first-year licence fees for new customers in the aviation, logistics and e-commerce sectors and the Business Park will be waived altogether.

Also, customers who operate in the Business Park Free Zone can apply for a lease deferral request of up to six months, which will be granted on a case-by-case basis.

Read: Covid-19: Dubai free zones offer stimulus package with rents postponed, fines cancelled

Dubai South Business Centre customers renewing their contracts between now and October 2020 will also receive a reduction of up to 25 per cent on their renewal fees and the flexibility to settle annual rental fees in up to four instalments. Individuals and companies establishing a new business will be granted rental fee reductions of up to 25 per cent.

“Dubai South is proud to be part of the emirate’s overall value proposition and we are keen to enhance its competitiveness and attractiveness to ensure it can attract more domestic and foreign direct investment,” said Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dubai Civil Aviation Authority, chairman and chief executive of Emirates Airline and group, and chairman of Dubai Airports

“The stimulus package is part of our mandate to exert our tireless efforts and align them with the initiatives and decisions of our government so that Dubai will remain a sought-after business destination and maintain its prominent position on all global performance indicators,” added Sheikh Ahmed.

Khalifa Al Zaffin, executive chairman of Dubai Aviation City Corporation and Dubai South said that the economic stimulus package will help businesses by reducing costs and increasing liquidity. “The support will enable companies to maintain their resources and employees and to be fully prepared to continue their operations, especially as the lockdown is being gradually lifted, paving the path towards gradual business cycle normality,” said Al Zaffin.

Dubai South was launched as a Government of Dubai project in 2006, representing a 145 square kilometer master-planned city designed to sustain a population of a million inhabitants and create 500,000 jobs.

In mid-March, the government of Dubai unveiled a Dhs1.5bn economic stimulus package to support companies and the business sector dealing with the Covid-19 pandemic.

Read: Coronavirus: Dubai reveals Dhs1.5bn stimulus package to support businesses

Other free zones in the emirate, including Dubai International Financial Centre (DIFC) have also separately announced their own financial stimulus packages.

Read: Dubai’s DIFC offers three-month rent waiver to retailers

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