Aldar in deal to build Grade A logistics park in Dubai
ABU DHABI, July 15, 2024
Abu Dhabi-based Aldar Properties has entered into a strategic agreement with DP World, a key provider of end-to-end supply chain solutions, for the development of a 1.5-million-sq-ft Grade A logistics park at National Industries Park (NIP) in Jebel Ali, Dubai.
As per the deal, Aldar will be responsible for the full development cycle of the logistics park - from concept and design to execution and management.
The project represents a portion of the company’s recently announced AED1 billion ($272 million) investment to expand its logistics real estate business in Abu Dhabi and Dubai.
Construction work will begin in Q4 with the first tenants set to be welcomed in Q4 2025, it stated.
According to Aldar, this partnership will provide the group access to develop and lease assets within NIP, strategically positioned near Jebel Ali Port and Al Maktoum International Airport, and well-connected to major road networks such as the E11 and E311.
Catering to the high demand for warehousing facilities, the project will target third-party logistics (3PL), eCommerce and retail tenants looking to expand or relocate.
The Grade A and LEED certified logistics park will sit on a 2.36 million sqft plot and will comprise three modular buildings that can be modified to become single or multi tenanted facilities, offering flexible unit sizes.
Aldar Group CEO Talal Al Dhiyebi said: "The location of the site within NIP is significant, strategically positioning us in a logistics hotspot with excellent access to the port and the main highway to Dubai and Abu Dhabi."
"Leveraging our expertise in both development and asset management, this unique project will play an integral role in the continued growth and diversification of our logistics offering," he stated.
DP World GCC CEO and Managing Director Abdulla bin Damithan said with more than 330 businesses operating their facilities out of NIP, the development of this logistics park will ensure that the right infrastructure and services are in place to meet the growing demands of the customers.
"This partnership underscores our dedication to delivering cutting-edge facilities and supply-chain solutions with our partners, he added.-TradeArabia News Service
