The Higher Corporation for Specialised Economic Zones of Abu Dhabi, better known as ZonesCorp, is set to be dissolved, with its assets being transferred to Abu Dhabi Ports Company.
All of ZonesCorp's assets rights and commitments will be transferred to Abu Dhabi Ports Company as part of a rationalisation by ADQ, the state holding company that owns both entities.
"This transition of ZonesCorp to Abu Dhabi Ports is beneficial to all parties involved – partners, employees, and, most importantly, our customers," Falah Al Ahbabi, who is chairman of both entities, said in a statement on Thursday.
"By grouping economic zones within Abu Dhabi Ports, there will be better related operational alignment, increased expansion and enhanced positioning to attract substantial direct foreign investment.”
ZonesCorp, established in 2004 in the capital, is the largest developer and operator of purpose-built industrial zones in the UAE. It operates both the Industrial City of Abu Dhabi and Al Ain Industrial City.
Following the merger, the Abu Dhabi Ports Company will issue licences for practicing activities within the economic zones as well as setting rgw rules, regulations and procedures for the licensing and cancellation of permits.
It will also specify and collect services fees and set out regulations for fees and charges, the statement said.
"By working together more closely, and more strategically, we will leverage our strengths in order to boost the competitive value of our industrial zones within the global marketplace," said Captain Mohamed Al Shamisi, group chief executive of Abu Dhabi Ports. "Our industrial cluster will be well positioned to deliver even greater investment opportunities to our valued customers who will benefit from easy access to regional markets, increased scale and improved services.”
The combined organisation now has a land area of 554 square kilometres and more than 1,400 customers, including those at Icad, Al Ain Industrial City and at Khalifa Industrial Zone close to the Khalifa deepwater port. These entities have attracted inward investments totalling Dh143bn, the statement said.
The Freedom Artist
By Ben Okri (Head of Zeus)
WWE Super ShowDown results
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Company profile
Date started: Founded in May 2017 and operational since April 2018
Founders: co-founder and chief executive, Doaa Aref; Dr Rasha Rady, co-founder and chief operating officer.
Based: Cairo, Egypt
Sector: Health-tech
Size: 22 employees
Funding: Seed funding
Investors: Flat6labs, 500 Falcons, three angel investors
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
