Qatar is Lowering Its Rental Rates in Industrial Area!
Qatar is Lowering Its Rental Rates in Industrial Area!
The Ministry of Municipality in Qatar has unveiled a new initiative aimed at revitalizing the Industrial Area with reduced rental rates for its plots. Effective June 30, 2024, under Minister of Municipality Decision No. (123), these changes are poised to stimulate economic growth and foster local industries.
Rental Reduction Goals
The primary objective behind this decision is to invigorate economic activities by making it more affordable for businesses to operate within the Industrial Area.
Revised Rates
Here’s a breakdown of the updated rental rates per square meter per year:
- Commercial Activities: Reduced from QR 100 to QR 10
- Logistics Services: Decreased from QR 20 to QR 5
- Industrial Operations: Adjusted from QR 10 to QR 5
These lease agreements are set for a duration of 25 years, with a provision for rate reviews every five years to ensure they remain competitive and supportive of economic growth initiatives.
By creating a more favorable business environment, Qatar aims to strengthen its position as a regional economic hub and encourage sustainable development across various sectors.
This article was posted on qatarmoments