Dubai South Extends Stimulus Package to Support Growing Business Community
In line with the UAE government’s commitment to support the business community, Dubai South has announced the extension of its incentive package for Business Park and Business Centre clients until the end of the year. The move aims to help companies navigate the challenges posed by the COVID-19 pandemic and ensure business continuity during the recovery period.
The stimulus package offers a 50 per cent reduction in Business Centre set up fee, as well as 50 per cent reduction on license fee for new company formation and renewals at the Business Park and Business Centre. These reductions are available to those who submit their applications after 26 July, 2020.
In line with its focus on supporting the continuity of businesses based in its free zone, Dubai South will them flexible payment plans with easy instalment schemes as well as a waiver of penalties for late renewals and cancellations of contracts and licenses. The extended stimulus package is subject to terms and conditions.
HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Aviation City Corporation and President of the Dubai Civil Aviation Authority (DCAA), said:
“This extension complements the recent stimulus package announced by the government and its ongoing efforts to help businesses adjust to the new normal. The stimulus package is in line Dubai South’s strategic goals to strengthen Dubai’s economy by supporting businesses as well as empower new investors to enter the market. It is our responsibility to support our existing clients and companies who are trying to establish their businesses at Dubai South, particularly during these challenging times. We understand that the business community is in need of extended support and flexibility, and we are committed to channeling our efforts into reinvigorating the business sector.”
Dubai South’s mission is to support businesses and ultimately help strengthen the emirate’s economy. By doing so, Dubai South seeks to set an example for other organisations to revitalise market activity, which in turn will reinforce Dubai’s position as one of the world’s most preferred lifestyle and business destinations.
Dubai South, launched as a Government of Dubai project in 2006, is an emerging, 145 sq. km master-planned city centred on the objective of enhancing the happiness of the individual. The city is identified as a flagship urban project aligned with the aims of Dubai Plan 2021. The development is designed to sustain a population of a million inhabitants and create 500,000 jobs in an integrated, economic environment that supports all types of businesses and industries.