Start-Ups Will Not Be Required To Pay Rent In This New Dubai Destination

by Deeplata Garde
by Deeplata Garde 484

Do you want to launch a business in Dubai and have it rent-free for two years? If it’s for a global venture in the technology sector, the company has a shot. Tenants in the Al Quoz Creative Zone who are setting up properties would be free from paying rent for up to two years. Crown Prince of Dubai declared this recently.

Sheikh Hamdan’s Creative Approach To Bring Talent In Dubai

Expo 2020 has been renamed District 2020. Startup projects handpicked to be among the first tenants of District 2020. Expect The Project to complete by late October or early November.

They have organized a 100-day program that will encourage young talent to approach Dubai to open their ventures in the near future. Sheikha Latifa bint Mohammed, chairwoman of the Dubai Culture and Arts Authority, declared the plan.

Sheikh Hamdan Commenced Al Quoz Creative Zone in April

The master plan for the project is to create a lively urban zone that can accommodate a wide range of creative enterprises. The Al Quoz Creative Zone’s key categories will be specific, and the permits that will be granted will be published. By late March, they might announce from the nominated 80 startups for the ‘Scale2Dubai’ project.

The Rising Hub Of Talent

The housing initiative is especially remarkable as Dubai broadens its quest for the top global talent. It will add the new innovations of Emirates. Recent developments by the Dubai government, have prioritised technological and digital prospects.

These selected companies will share office space in District 2020 with major corporations. Be ready to have neighbours such as Siemens and Terminus. Meanwhile, Dubai’s DP World shall “assist the efficient logistics landscape.” Al Quoz Creative Zone’s total net leasable area will be 115,000 square metres.

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