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Project aims to be region’s largest fully integrated automotive hub
Estimated to be complete by Q1 2020
Businesses eligible for 50-year long-tern leases
A new automotive hub, Rahayel City, will be built in Abu Dhabi by Q1 2020 according to a report in Gulf News. Zones Corp, a government owned-entity unveiled the plans for the upcoming project – estimated to cost AED 1 billion – at the recent Cityscape Abu Dhabi event. The development is part of Abu Dhabi’s plan to boost investment and diversify its economy over the coming years.
The development area for Rahayel City will cover 6 million sq m, 3 million of which will be developed in phase 1. The project aims to be the largest fully integrated automotive hub in the region with complete provisions for the automotive industry’s value chain, from staff accommodation to workshops, showrooms and a training institute for mechanics.
Work is underway to complete basic infrastructure in June 2019, enabling investors to set up businesses in the new development. The new hub will offer a long-term lease of 50 years for automotive companies, which can then be renewed for another 50 years.
Zones Corp currently oversees 50 sq km of developed areas in Abu Dhabi city and Al Ain and has plans to develop new areas in Al Dhafra. The company’s economic zones also includes 650 industrial facilities covering various economic and business sectors.
Cavendish Maxwell is the MENA region’s leading firm of property consultants and chartered surveyors. If you are looking for professional real estate consultation or advice on property related matters, please view our services.
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