Over the past two years, the Commission has embarked on implementing the Economic Center project for the Industrial City of Jubail, which is one of its initiatives in developing the national industry and logistical services, and one of the prominent programs in achieving the Kingdom's Vision 2030.
During the meeting, speakers highlighted 7 investment incentives in the city, including its strategic location on the coast of the Arabian Gulf and its proximity to four Gulf capitals. They also emphasized its world-class infrastructure and the incentives it offers related to postponing the rental value for up to five years from the allocation date. Additionally, they mentioned the advantages of escalating rent for facilities, long-term agreements for projects with a special nature, and the exemption period that may extend to two years of the rental value with the approval of the authority. Furthermore, in case the investor adheres to the schedule during the allocation period, the initial authority is granted to the investor for renewing the agreement as a facility upon the expiration of the contract period.
The speakers outlined three pathways followed by the Commission for investment in the city. The process begins with announcing opportunities in newspapers, media channels, and available platforms after completing all technical aspects. Then, they proceed to attract distinguished investors, searching for outstanding investors and globally qualified brands in their respective investment fields, contacting them, and attracting them to invest in the city. Finally, there is a direct allocation stage for investors from government entities, non-profit organizations providing exclusive services, and companies operating in the city.
In addition to the basic requirements such as registration, social insurance certificate, chamber membership, and others, the speakers identified about seven criteria used to select investors, including:
Performance of the investor in similar projects.
Bidding price.
Concepts from the master plan and preliminary visions.
Number of years of experience in the same field.
Global, regional, or local presence, or presence in the city for those without similar branches for the opportunity.
Added value, either through a new idea not conflicting with the opportunity, adding a brand name, or adding a brand name with a new idea.
The speakers at the meeting included Manaa bin Yahya Al Mansour, Director of Commercial and Residential Investment Management, Fahad bin Fahad Al Hajri, Director of Property Services Management, Ahmed bin Saleh Al Duhaim, Director of Urban Planning Management, and Abdullah bin Jabr Al Dosari, Acting Director of Project Management.
