Masdar City is an emerging global hub for renewable energy and clean technologies and is set to become a leading global center for renewable energy, research, development, implementation and investment.
Masdar City is an emerging global hub for renewable energy and clean technologies and is set to become a leading global center for renewable energy, research, development, implementation and investment. Masdar City offers all benefits one would associate with special economic zones, though with a unique focus on clean technology and renewable energy, and in a business – friendly and entrepreneurial environment that offers.
Established in 2006 Masdar City is a key pillar in Abu Dhabi’s much broader vision toward sustainable economic development and diversification, and the fostering of knowledge-intensive industries.
Situated 17km from downtown Abu Dhabi, Masdar City is a high-density, pedestrian-friendly development where current and future renewable energy and clean technologies are showcased, marketed, researched, developed, tested and implemented.
In light of its climate and geography, Masdar City will focus on attracting firms and pursuing research in the following areas of the renewable energy and cleantech industries: solar, green building, water, power storage, smart grids, efficiency appliances, electric vehicles and waste.
More specifically, partner companies and organizations looking to set up in Masdar City should operate within one of the following fields:
In addition to these areas of focus there are six activites for which Masdar City is ideally suited as a base of operations. They include:
The other advantage of doing business in Masdar City is their proximity to MENA region. Masdar City is located in the heart of the fast-growing markets of the Middle East, North Africa and Asia – regions hungry for clean technology and renewable-power products and services, driven by strong economic and demographic growth and increasingly supportive regulatory environments and government-level policy commitments to sustainability goals. The Middle East and North Africa cleantech market is expected to be worth US$100 billion by 2014.
Setting up a business in Masdar City requires planning and decision making through different phases. This involves deciding the business activity and confirming with Masdar City, preparation of comprehensive business plan, choosing legal structure for business, estimating required human work force etc. The Business Registration or licensing process can be completed only after depositing the minimum capital mandated by the Masdar City in a bank account. A company being formed may have either an individual shareholder or corporate shareholder or both. The incorporation process requires the shareholders to sign the documents in the presence of Masdar City representatives.
An individual or a corporate entity can set up and do business in Masdar City being registered in any of the following legal forms:
Numerous global players in the renewable energy and sustainability industry have alredy recognized the benefits of locating in the city. Siemens will locate major corporate facilities, including a Centre of Excellence for Smart Buildings, in the city, while GE will build its first ecomagination Centre focused on sustainable business solutions here. Other partners include BASF, Bayer MaterialScience, Korea Technopark Association, Mitsubishi Heavy Industries, Schneider Electric and Swiss Village Association.