Tenants rebuilding or renovating their properties in Al Quoz get 2-year rent exemption
- 04 Dec 2021
Gulf Today, Staff Reporter
Sheikh Hamdan Bin Mohammed, Dubai Crown Prince and Chairman of the Executive Council of Dubai, has issued directives that the tenants who are rebuilding or renovating their properties in Al Quoz Creative Zone are exempted from rents for up to two years.
This in line with the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai to raise the emirate’s position as an international cultural destination and transform it into the global capital of the creative economy by 2025,
The move aims to transform the area into a comprehensive integrated creative zone that attracts talent from across the world.
The whole initiative is a part of the framework of the 100-day plan for the Al Quoz Creative Zone development project.
Sheikha Latifa Bint Mohammed Bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority (Dubai Culture) and a member of the Dubai Council, heads the project's higher committee.
Sheikha Latifa has identified priority actions to be undertaken to develop the zone.
The 100-day plan for the Al Quoz Creative Zone development project has also set goals and indicators to advance the project’s two pillars: infrastructure and support for creatives.
