A Meeting for Businesswomen Highlights Investment Incentives in Jubail Industrial City
Manaa bin Yahya Al Mansour, the Director of Commercial and Residential Investment Management at the Royal Commission in Jubail, emphasized that Jubail Industrial City stands out due to its strategic location on the Arabian Gulf coast, near four Gulf capitals: Kuwait, Manama, Doha, and Riyadh.
During the businesswomen's networking event organized by the Asharqia Chamber, represented by the Women Empowerment Center, on October 11, 2023, in its branch in Jubail Industrial City, Al Mansour highlighted the investment mechanisms in the Royal Commission in Jubail. He mentioned that Jubail Industrial City offers several investment incentives as it boasts high-quality infrastructure, more than 35,000 residential units, 5 distinctive beaches, and a population of over 290,000. Furthermore, it hosts 1,500 commercial establishments, 97 schools, and preschools. These factors contributed to Jubail being recognized as one of the largest industrial cities globally in 2021, and the city is also a pioneer in education.
Regarding the investment incentives, Al Mansour stated during the meeting, which was attended by the Chairman of the Jubail Business Council, Saad Al-Buainain, and notable participation from businessmen and businesswomen, that Jubail Industrial City has several enticing measures to attract prospective investors. These include calculating the rental value for commercial projects, which begins one year after the investor is notified of the allocation and can extend up to 5 years. The Royal Commission for Jubail grants long-term agreements for up to 50 years for projects of a private nature. Additionally, there is an exemption period of up to two years from the rental value with the approval of the authority holder, provided the investor adheres to the stipulated schedule during the conditional allocation period.
He pointed out that the Royal Commission is working on attracting global brands based on its vision to make Jubail Industrial City the best choice for investors in the industrial sector, contributing significantly to the progress and sustainability of the industry in the Kingdom. This reaffirms its mission to develop, empower, and manage sustainable industrial cities that encourage innovation, provide advanced infrastructure, distinctive services, leading to a thriving economy and a vibrant society that aligns with the ambitions of the nation and its partners.
Al Mansour also discussed the available facilities for attracting investments, including the waterfront in Al Fanateer district. Additionally, there are plans to establish and operate the Al Huwailat Tourist and Entertainment Island and to create and operate an entertainment city in the Daren area. Furthermore, there is a dedicated central entertainment area on the outskirts of Jubail Industrial City designed to be a bustling zone and an entertainment destination. This area includes specialized golf courses, event venues, a water park, an equestrian club, a car racing track, spaces for hotels, and multiple-use facilities.
He also highlighted the prominent projects in the economic center of Jubail Industrial City, which comprises commercial spaces, residential units, dedicated walking paths, shopping complexes, boat marinas, popular markets, and commercial complexes.
