AED 621 million for Abu Dhabi hubs
Khalifa Economic Zones Abu Dhabi (Kezad Group) is investing AED 621 million (EUR 157 million) in several new developments in the United Arab Emirates, which will boost its warehousing capacity by 43%. Its building project in the Khalifa Industrial Area will cover 97,500 sqm of space, while another new hub in ICAD 3 will span 153,000 sqm.
The group is seeing strong demand for warehousing and other pre-built facilities in the region. Its new development will include distribution centres, cold stores and various other units and showrooms.
In the few months between Q3/2023 and now, Kezad has added more than 270,000 sqm to its warehousing portfolio. Kezad Group thus aims to fortify its presence in the market of economic zones and provide ‘plug and play’ assets for its customers. (mk)