Abu Dhabi (Etihad)
Dubai South and Aldar Properties (Aldar) announced their cooperation in a joint project to develop first-class, high-end logistics facilities within the logistics district in Dubai South.
Within the framework of this partnership, Aldar and Dubai South are cooperating to develop new logistical facilities for leasing and others designed upon request.
Aldar will design, develop and deliver these new assets, and will begin by developing a first-class logistics facility with a total floor area of approximately 24,000 square metres.
The plot of land designated for developing the first facility is located next to the warehouses of a number of the most prominent international brands, such as “Amazon,” “Noon,” and “DHL.” It provides a dual customs solution thanks to its strategic location, easy access, and proximity to Al Maktoum International Airport.
The development of this facility is expected to be completed and ready for leasing by the end of 2024, paving the way for the development of further build-for-rent facilities.
The projects being developed with Dubai South form part of Aldar’s investment worth one billion dirhams in the field of real estate logistics services, which also includes the development of other projects dedicated to construction and leasing throughout the United Arab Emirates, in addition to the acquisition of the “7 Central” center. Logistics” and an adjacent plot of land in Dubai Investment Park.
The partnership agreement was signed at the Dubai South headquarters in the presence of Khalifa Al Zaffin, CEO of Dubai Aviation City Corporation and Dubai South, and Talal Al Dhiyebi, CEO of Aldar Group.
On this occasion, Khalifa Al Zaffin, CEO of Dubai Aviation City Corporation and Dubai South, said: As Dubai South continues to shape the future of logistics services, our partnership with Aldar represents a strategic move towards strengthening our logistics infrastructure in line with our mission to provide a dynamic business environment by establishing advanced facilities.
Talal Al Dhiyebi, CEO of Aldar Properties Group, said: We are very excited about this partnership, which is in line with our growth strategy, and brings us together with a partner similar to us in our investment mentality. Together we have a lot of complementary business capabilities, and this cooperation represents the beginning of a dynamic project that qualifies us to benefit from the UAE’s continued investment. In infrastructure development, the development of the digital economy, and the increasing demand for delivery services.
2024-02-27 21:05:58
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