Gulf Today, Tuesday, Jul 16, 2024 | Muharram 10, 1445

Aldar and DP World to develop Grade A logistics park in Dubai

United Arab Emirates:

Aldar Properties and DP World have signed a strategic agreement where Aldar will fund and develop a 1.55 million sqft (144,000 sqm) Grade A logistics park at National Industries Park (NIP) in Jebel Ali, Dubai.
This partnership will provide Aldar 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.

Construction of the new logistics park will begin in Q4 2024, with the first tenants set to be welcomed in Q4 2025.

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 (220,000 sqm) plot and will comprise three modular buildings that can be modified to become single or multi tenanted facilities, offering flexible unit sizes.

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 Dhs1 billion investment to expand its logistics real estate business in Abu Dhabi and Dubai. Talal Al Dhiyebi, Group Chief Executive Officer of Aldar Properties, 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.”

Abdulla Bin Damithan, CEO and Managing Director of DP World GCC, stated, “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 our customers. This partnership underscores our dedication to delivering cutting-edge facilities and supply-chain solutions with our partners.” Aldar is the leading real estate developer, manager, and investor in Abu Dhabi, with a growing presence across the United Arab Emirates, the Middle East and North Africa, and Europe. The company has two core business segments, Aldar Development and Aldar Investment.

Aldar Development is a master developer of a 69 million sqm strategic landbank, creating integrated and thriving communities across Abu Dhabi, Dubai, and Ras Al Khaimah’s most desirable destinations.

The delivery of Aldar’s developments is managed by Aldar Projects, which is also a key partner of the Abu Dhabi government in delivering housing and infrastructure projects across the UAE’s capital. Internationally, Aldar Development wholly owns UK real estate developer London Square, as well as a majority stake in leading Egyptian real estate development company, SODIC.