Dubai International Financial Center, a tax-free business park, will cut rents and operational costs by as much as 50 percent to encourage companies to expand following the financial crisis.
“We have benchmarked the pricing against other international business centers,” Abdulla Mohammed Al Awar, DIFC chief executive officer, told reporters on a conference call in Dubai today. “We want to give clients in the DIFC the benefit of lower prices so they can grow their businesses.”
DIFC said it will amend rental charges for companies operating in the center with effect from January.
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