Construction & Real Estate

Dubai waives off Al Quoz Creative Zone rents for two years

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, has issued directives to exempt tenants who are rebuilding or renovating their properties in Al Quoz Creative Zone from rents for up to two years.
 
The move is part of the framework of the 100-day plan for the Al Quoz Creative Zone development project that aims to transform the area into a comprehensive integrated creative zone that attracts talent from across the world.
 
The 100-day plan has identified priority actions to be undertaken to develop the zone. It has also set goals and indicators to advance the project’s two pillars: infrastructure and support for creatives, reported state news agency Wam.
 
At the infrastructure level, the plan includes the development of the project's masterplan that will create a specially designed urban space that can accommodate all activities, investment, and people related to the project. 
 
As part of implementing the vision for the project, a unique model for optimally distributing living, working and creative public spaces will be developed based on a comparative study of similar zones around the world. Key categories of activities related to the creative industries sector will be identified and permits that will be given in the Al Quoz Creative Zone will be listed, it added.
 
As part of providing support to the creative community, the plan has created a dedicated platform called the Creatives' Journey within the Invest in Dubai platform to support the business operations of creatives and provide a single window to get licenses for their projects in Dubai within a few minutes. 
 
By providing incentives for creatives to establish and develop their businesses, the platform supports the effort to transform industrial land into areas for creative activities.
 
The plan also seeks to provide soft-mobility solutions for the people in the zone. Transportation facilities connecting Al Safa Metro Station to Al Quoz Creative Zone will be developed, said the Wam report. 
 
This will feature a bus route with special designs. Initial designs for street signage will also be developed. In addition, consultancy contracts have been awarded to develop the best Integration and soft-mobility solutions in the Al Quoz Creative Zone that will include street furniture, cycle tracks, pedestrian bridge with a unique design, pedestrian sidewalks, micro-mobility, activity areas. 
 
Moreover, coordination with the landlords and investors is conducted to explain the new opportunities provided in the area, it added.