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Posted On: 30 June 2024 02:59 pm
Updated On: 30 June 2024 03:19 pm

Ministry of Municipality reduces rental rates of Ministry plots located in Industrial Area

Fareeha Imtiaz
Fareeha Imtiaz
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Ministry municipality reduces rental rates plots located industrial area

The Ministry of Municipality announced on 30 June 2024 the Minister of Municipality Decision No. (123) to reduce rental rates of Ministry plots located in the Industrial Area.

The rental reduction aims to boost economic growth, support local industries, subsidise essential goods, encourage business expansion, create an attractive environment for investment and contribute to the diversification of the national economy.

The amendments in prices are as follows:

  • The lease agreements are for 25 years
  • The rates will be reviewed after 5 years
Type of ActivityRATE BEFORE CHANGE (QR/sqm/year)RATE AFTER CHANGE (QR/sqm/year)
CommercialQR 100QR 10
LogisticsQR 20QR 5
IndustrialQR 10QR 5

Source & cover image credit: Albaladiya