Masdar City Free Zone launches new licence options for businesses
- 23 Aug 2021
Masdar City Free Zone has announced the launch of new business package options for new and existing companies based in the region’s hub for innovative sustainable technologies, Masdar City.
In line with the recent UAE government announcement to ease the business environment in the UAE, Masdar City Free Zone has introduced the new business package options to further support business growth and development in Abu Dhabi.
Abdulla Balalaa, Executive Director, Masdar City, said, “Masdar City is home to hundreds of companies, both international and local, that are dedicated to developing sustainability-focused technological innovations of the future. As the City’s dynamic ecosystem continues to grow, our Free Zone is also ensuring that new and existing businesses, can benefit from extremely competitive licence options in addition to the unique network of education, R&D and innovation, that they automatically become a part of at Masdar City.” “With the recent government notice to ease the business environment, Abu Dhabi’s position as an attractive global hub that promotes economic diversification, empowers global talent, and supports the emirate’s sustainable development, is further reinforced. Masdar City Free Zone fully supports this, and we look forward to welcoming even more innovative companies to our growing community,” Balalaa continued.
“Masdar City Free Zone is run by a highly knowledgeable team of experts who are ready to assist businesses with all of their requirements, both in person, via email or phone, or via the City’s Free Zone portal,” Balalaa added.
The new Masdar City Free Zone license packages offer a unique flexibility that allows companies to adapt to their businesses requirements and are available now.
Masdar and PT PJBI, a subsidiary of Indonesia’s state-owned electricity company PT PLN, announced on recently that financial close has been achieved on the Cirata Floating Photovoltaic Power Plant project and construction work has begun. Financing for the project - Indonesia’s first floating solar power plant - was arranged through Sumitomo Mitsui Banking Corporation, Societe Generale, and Standard Chartered Bank, said a Masdar press release. The 145-megawatt (ac) plant is being developed by PT. Pembangkitan Jawa Bali Masdar Solar Energi (PMSE), a joint venture (JV) between Masdar and PT PJBI, and is expected to begin commercial operation in the fourth quarter of 2022.
Masdar City Abu Dhabi’s Masdar City is one of the world’s most sustainable developments. It is made up of a rapidly growing clean-tech cluster, business free zone and residential neighborhood with restaurants, shops and public green spaces. Masdar City is a working model for cities around the world in environmental, economic and social sustainability, and continues to push the boundaries of innovation. The sustainable city is home to the headquarters of the International Renewable Energy Agency (IRENA), as well as several Fortune 500 companies, hundreds of entrepreneurs, and a leading graduate-level research institute.
