AD Ports sells warehouses for 295 million AED

AD Ports Group has sold warehouses to Mair Group for 295 million AED. This transaction reflects the company’s strategy to recycle its capital and optimize its balance sheet structure, as stated by the company. The sale includes the warehouses in the KEZAD Logistics Park – KLP Free Zone 3 in Abu Dhabi. These storage spaces are located in a free trade zone and are near Khalifa Port, providing direct access to key transport routes.

The transaction involves the sale of the warehouses as well as a land lease agreement under a 50-year Musataha agreement. The total value of the transaction will be paid over a period of two years, including an upfront payment of 74 million AED. The proceeds from the sale are intended to be used to reduce the company’s debt. KLP Free Zone 3 spans a total area of 128,451 m² and offers a gross leasable area of 59,822 m², distributed across four blocks designed for various activities.

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