Lease Agreement with Quality International, dated June 6, 2022
Hamriyah Free Zone Authority
QUALITY INTERNATIONAL CO. LTD FZC
AGREEMENT
LEASE & PERSONNEL SECONDMENTS
Plot No. : HD-22C/2,HD-22C/1 (20934.00Sq.m)
(Phase 1)
06/06/2022
THIS AGREEMENT for Lease and Personnel Secondment is made on 06/06/2022 BETWEEN
:-
HAMRIYAH FREE ZONE AUTHORITY of P.O Box 1377, Sharjah, United Arab Emirates ( the Landlord / Authority ); and QUALITY INTERNATIONAL CO. LTD FZC ( the Tenant / Company ) WITNESSES as follows :-
1. Copies of the following provided to the Tenant / company the receipt of which is acknowledged shall be an integral part of this Agreement and shall be binding on the Landlord / Hamriyah Free Zone Authority and the Tenant / company.
| a. | The STANDARD TERMS AND CONDITIONS OF HAMRIYAH FREE ZONE LAND |
LEASES concerning the Premises being leased and
| b. | The STANDARD TERMS AND CONDITIONS OF HAMRIYAH FREE ZONE |
PERSONNEL SECONDMENTS concerning the payment of contractual obligations of the company related to their seconded employees.
2. "Initial Rent" per annum shall be as follows for Plot No(s) HD-22C/2,HD-22C/1 (20934.00Sq.m) (20,934.00 sq. m) in Hamriyah Free Zone :
| Particulars | Rate / Sqm (AED) | Rent Holiday (AED) | Annual Rent (AED) | Effective Rate / sqm |
| Year 1 - 06/06/2022 to 10/09/2022 | 50.00 | 0 | 281,032 | |
| Year 2 - 11/09/2022 to 10/09/2023 | 50.00 | 0 | 1,046,700 | |
| Year 3 - 11/09/2023 to 10/09/2024 | 50.00 | 0 | 1,046,700 | |
| Year 4 - 11/09/2024 to 10/09/2025 | 50.00 | 0 | 1,046,700 | |
| Year 5 - 11/09/2025 to 10/09/2026 | 50.00 | 0 | 1,046,700 |
In the event of facility termination during the next 5 years, the rent holiday provided if any will be reversed in full.
Any Tax as applied by UAE laws will be applicable on all rent, fees and charges.
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3. "Permitted Use" : Subject to obtaining all necessary approvals from the landlord and other authorities, if any, the Premises may be used for GENERAL TRADING.,ENGINEERING, PROCUREMENT AND CONSTRUCTION OF INDUSTRIAL PROJECTS IN OIL & GAS, PETROCHEMICAL AND REFINERY , FERTILIZERS AND CHEMICALS, POWER AND DESALINATION INDUSTRIES, MANUFACTURING & FABRICATION OF STEEL AND OF STEEL PRODUCTS , ONSHORE / LAND RIG MAINTENANCE, UPGRADE AND ONSHORE/ LAND RIG MANUFACTURING. (Industrial,Commercial) provided any activity in the UAE outside the Free Zone will have to be done in accordance with local rules and regulations ;
4. "Premises" shall be the land situated at Hamriyah Free Zone and known as Plot No (s).HD-22C/2,HD-22C/1 (20934.00Sq.m)
5. "Review Date" shall be as per clause 2 above and the "Relevant Contract Review Date" shall be construed accordingly.
| 6. | "Term" The Lease period shall be 1 year(s) from lease agreement date, renewable. |
| 7. | "Term and Rent Commencement Date" shall be 06-Jun-2022. |
| 8. | Address : |
All correspondence shall be sent to the parties at the address set out below or such addresses as may be notified by the parties :
HAMRIYAH FREE ZONE AUTHORITY
P.O Box 1377
Sharjah, UAE
Tel : 06-5263 333
This document is digitally signed and it does not need to be stamped or signed. To verify online visit http://www.hfza.ae/en-us/Verify-Documentsv2. Online Verification # 95283732
QUALITY INTERNATIONAL CO. LTD FZC
Po Box 50622
Hamriyah Free Zone Sharjah, UAE Tel : 97167480511 Fax : 06 ###-###-####
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