(MENAFN- The Peninsula) By Mohammad Shoeb / The Peninsula
DOHA: The Economic Zones Company (Manateq) has announced a significant reduction of the rental value of the Mesaieed Industrial Zone to QR10 per square metre (sqm) for 2018.
The promotional incentive indicated that the reduction in rentals would only apply to the current year, and the rental values, adjustments or other receivables would be accounted for in subsequent years, as stipulated in the investor lease.
Manateq oversees the development of several special economic zones, industrial and logistics parks and warehouse complexes across the country, including the Mesaieed Industrial Zone.
The reduction in the rental rate is part of the government's efforts to attracting investors and supporting local businesses, especially the small and medium-sized (SMEs) to diversify the energy-rich economy.
'We affirm our commitment to the state's approach to support all investors in the small and medium enterprises sectors to carry out their projects in an optimized manner to facilitate the advancement of the Qatari economy. The Rental rate value of Mesaieed Industrial Zone for the industrial and logistic sectors has been reduced to 10/QR/sqm for 2018, said a statement on Manateq's Facebook handle.
The promotional offer is doing rounds on some social media networks. The new rental rate has been reduced to QR10 per square metres (sqm) per year for the year 2018, which is half of the actual rent of Industrial plots.
A spokesperson for the Manateq, who did not wish to be named, told The Peninsula yesterday that the reduced rental offer is to support the local businesses for the industrial zone area which is valid for this year. The rental rates, mentioned on the official website of Manateq for Mesaieed Industrial Zone, vary for the usage of the land.
The actual price for Industrial plots is QR20/sqm per year, and for Logistics plots it is QR40/sqm per year. Lease payment starts after one year from signing the ‘Land Allocation Letter'.
The Mesaieed Industrial Zone is located about 40km south of Doha. The region is important for oil refining, petrochemicals, chemical fertilizers, workshops and primary building materials. The plots are suitable for a variety of industrial, logistics, and commercial activities, and provide all needful infrastructures for business needs.
Companies and investors looking to setup their own facilities in the light and medium industries, such as plastic, ready-mix, cement and concrete, precast, steel fabrication and other field, are eligible for this zone. The entire Mesaieed Industrial Zone is broadly divided into sub areas which include Light Industry East, Light Industry West, Light Industry Central and Medium Industry.
The industrial area is fully equipped with basis infrastructure, including water and electricity network, telecommunications network, road network, facility management, such as security and parking areas.
The rapidly growing industrial park is well connected and strategically located. Its strategic location will allow undisputed efficiency and growth for business. It is connected to Mesaieed Industrial City, Um Alhoul Special Economic Zone and Al Wakrah Logistics Park.
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