Dubai South introduces 20% reduction on licence fees renewals
Customers can benefit from flexible payment plans as well as waivers of penalties on late renewals
Dubai South has announced economic stimulus incentives to mitigate the effects of the current COVID-19 pandemic.
Placing emphasis on the continuity of businesses, Dubai South will offer individuals and companies in its free zone flexible payment plans with easy instalment schemes as well as waivers of penalties on late renewals and cancellations of contracts and licenses, state-run Dubai Media Office reported.
Customers will also benefit from a 20% reduction on licence fees renewals, while first year license fees for new customers in the aviation, logistics and e-commerce sectors and the Business Park will be waived, state-run Dubai Media Office reported.
The incentives will also be applicable to Business Park Free Zone customers, who will have the opportunity to apply for a lease deferral request of up to six months, to be granted on a case-by-case basis.
Dubai South Business Centre customers renewing their contracts between now and October 2020 will receive a reduction of up to 25% on their renewal fees as well as the flexibility to settle annual rental fees in up to four installments.
Individuals and companies looking to establish a new business will be granted rental fee reductions of up to 25%.
Commenting on the incentives, President of the Dubai Civil Aviation Authority (DCAA) and Chairman of Dubai Airports, HH Sheikh Ahmed bin Saeed Al Maktoum, said: "Our current customers are our most important asset; therefore, our focus is to provide them with all our support in these challenging times and beyond, so that they will be able to support the national economy and contribute to GDP growth.
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.”
Speaking about Dubai South's efforts, executive chairman of Dubai Aviation City Corporation & Dubai South, HE Khalifa Al Zaffin, said: "This incentive package complements the measures announced by the Government of Dubai and its ongoing efforts to reduce the costs of doing business in the emirate and help enhance corporate 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."