Ta’ziz, an industrial zone being developed in Abu Dhabi’s Al Ruwais, has signed 31 land reservation agreements with companies for its light industrial area as the emirate continues to enhance its manufacturing sector.
The initial tenants represent sectors critical to the industrialisation of the UAE such as manufacturing, logistics, maintenance and training services, and have reserved spaces across several phases of the project, Ta’ziz said on Thursday.
“By leveraging the purpose-built infrastructure Ta’ziz offers in proximity to our industrial chemicals zone and the Al Ruwais Industrial City, regional and industry leaders can participate fully in the industrialisation and diversification of the UAE’s economy,” said Mashal Al Kindi, chief executive of Ta’ziz.
With the capacity for hundreds of manufacturing and industrial services businesses, the Ta’ziz light industrial area is expected to enable more than $1 billion of investment and generate thousands of jobs in the region.
Ta’ziz also said that the tenants will access their plots in 2025, enabling them to start offering manufacturing capabilities and industrial services for the Al Dhafra region.
Founded in 2020 as a joint venture between Adnoc and ADQ, Ta’ziz is a manufacturing, industrial services, and logistics hub that drives the production of chemical value chains and transition fuels.
Last year, Ta’ziz, signed an agreement to develop a low-carbon ammonia plant with the capacity of about a million tonnes per year.
The projects in the industrial chemical zone also include a $2 billion chlor-alkali, ethylene dichloride and polyvinyl chloride plant, a blue ammonia plant and a methanol plant.
In 2023, Ta'ziz was designated as an investment zone to strengthen the business environment in Abu Dhabi's industrial sector.
The emirate has embarked on a major programme to boost its standing as the region’s most competitive industrial hub and further support its economic diversification plan.
Abu Dhabi's industrial strategy aims to more than double the size of the manufacturing sector to Dh172 billion ($46.83 billion), create 13,600 jobs and increase the emirate's non-oil exports by 143 per cent to Dh178.8 billion by 2031.
The chemicals industry is a major part of the initiative, having been deemed a priority sector and promoted by the Ministry of Industry and Advanced Technology.
This week, it was announced that the UAE's industrial sector will receive an additional Dh23 billion ($6.3 billion) in funding, backed by major companies, at the Make it in the Emirates forum in Abu Dhabi.
Adnoc will contribute a further Dh20 billion while Pure Health, the largest healthcare group in the Emirates, will provide another Dh3 billion, Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, said.
That would raise total funding for the industrial sector to more than Dh143 billion, which is being used to support the domestic manufacturing of more than 2,000 products, he said.
The country has recorded a 49 per cent increase in the industrial sector's contribution to the gross domestic product, reaching Dh197 billion, from the creation of Make it in the Emirates in 2020 until December last year, while industrial exports have surged 60 per cent to Dh187 billion, it was reported in March.
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Mohammed bin Zayed Majlis
Killing of Qassem Suleimani
KILLING OF QASSEM SULEIMANI
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