ZonesCorp to invest Dh1.6b in setting up integrated auto hub in Abu Dhabi
12.3 square km Rahayel City will have showrooms, service centres and workshops
ZonesCorp, the specialised economic zone operator, will invest approximately Dh1.6 billion by the end of the year in its new automotive city, the company announced at a press conference at the Global Manufacturing and Industrialisation Summit (GMIS) yesterday.
Plans were unveiled for the development of Rahayel City, an integrated auto hub in Abu Dhabi. This development comes in response to a mandate by the Abu Dhabi Government to implement strategic plans to develop the automotive industry in the emirate.
The new project will be accompanied by a new set of regulations governing the sustainable use of water and electricity, and environmentallyfriendly methods of waste disposal.
The new regulatory framework will also include the provision of green spaces throughout the development, and will ensure that stringent occupational and operational standards are met in terms of service and delivery relating to qualified personnel, machinery and health and safety.
According to Rahayel project manager Ahmad Al Mazroui, the aim is for Rahayel City to become a focal point for automotive manufacturers, distributors, service providers and dealers in Abu Dhabi, providing a range of autorelated investment opportunities.
Al Mazroui announced that incentives will be offered, and full investment packages will be presented in the coming months.
The city, covering 12.3 square km, has been designed to accommodate a range of auto-related businesses, with 1,800 plots of different sizes and supporting services such as showrooms, service centres and workshops, auction houses, warehousing, residential areas and public recreational facilities.
Rahayel City is currently in phase 1 of development, with the construction of infrastructure expected to be completed by the end of 2017.
Saeed Eisa Al Khyeli, Director General of ZonesCorp, said in a statement: “Rahayel is in line with the Abu Dhabi 2030 vision to build a sustainable and diversified, high value-added economy that is well integrated into the global economy and provides more accessible and higher-value opportunities for all its citizens and residents. The project is also in response to the wider economic growth in the UAE that has seen the automotive sector blossom in recent years.”
According to a statement released by the company, due to the importance of the project and its role in the advancement of specialised economic zones in Abu Dhabi, ZonesCorp has been tasked with developing Rahayel City in collaboration with a number of other government entities. The statement did not specify which government agencies this includes.