Ajman Free Zone Finalizing Expansion
by Lorys Charalambous, Lowtax.net, Cyprus
20 April, 2015
Ajman Free Zone in the United Arab Emirates (UAE) announced on April 16, 2015, that it is set to launch the fourth and final phase of the construction of its so-called "smart warehouse" complex.
The smart warehouse system allows investors to rent warehouse units as small as 100 square meters with the option of combining multiple units in cases where larger spaces are required.
The fourth phase will contain 135 warehouses and will cost AED60m to construct. It will include a road network and integrated infrastructure.
The project as a whole has a total cost of AED250m and is expected to be completed by December this year. It will contain 1,000 warehouses.
The business incentives offered by the Zone, in Ajman, one of seven emirates in the United Arab Emirates, include total exemption from all import and export duties, and no personal or corporate income tax. 100 percent foreign ownership is permitted.
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