|
 posted
on 07/11/2006
Abu
Dhabi's Higher Corporation for Special
Economic Zones (Zones Corp) will create 11
more zones and attract investments totalling
Dh12.4 billion over the next three years, a
top official said. "Investors have already
committed Dh3 billion to the Industrial City
of Abu Dhabi (ICAD 3), that is part of Zones
Corp," said Norman Wing Johnston, Chief
Executive, Zones Corp.
"ZonesCorp expects
to generate a rental and service charge
income of approximately Dh9 billion at
current valuation. The Zones will cover a
landmass of 85 square kilometres and will
directly provide quality residential housing
for over 100,000 people," he told a news
conference on the sidelines of the Abu Dhabi
International Petroleum Exhibition and
Conference (Adipec) 2006.
Zones Corp was set
up in 2004 to boost industrialisation in the
capital. Zones Corp attracted 24 new
companies in 2004 and 59 companies in 2005
and in 2005 while this year it has so far
attracted over 150 new companies. "We have
seen a 200 per cent increase in new
investors. Over 230 internationally
recognised companies now call these Zones
'home', and represent a major contribution
to Abu Dhabi's economic diversification
programme," said Johnston.
Some 60 per cent of
its staff are UAE nationals, he said. Last
week, Abu Dhabi-based Al Hamid Enterprises,
a diversified business group, entered into a
US$200 million (Dh 734 million) joint
venture with the UK's Pilkington Group
Limited to manufacture float glass at
ICAD-2. |
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