Aldar Properties (‘Aldar’), a leading real estate developer, investor, and manager in the UAE 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 landmark project signifies a new partnership that will provide Aldar access to develop and lease assets within NIP, which is 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 (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 AED 1 billion investment to expand its logistics real estate business in Abu Dhabi and Dubai, with plans for further investment as the business grows.
Talal Al Dhiyebi, Group Chief Executive Officer, Aldar Properties, said: “This strategic agreement with DP World further bolsters our presence within the logistics real estate sector and aligns with our broader expansion plans in Dubai. The location of the site within National Industries Park 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 & Managing Director, DP World GCC, said: “Our collaboration with Aldar will expand the logistics capabilities at NIP, strengthening our position as a critical distribution hub for some of the biggest manufacturers and businesses in the FMCG segment. 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.”
NIP is a 21 square kilometre zone that is situated at the heart of Dubai’s industrial district with a world-class supportive ecosystem for manufacturing and processing companies that includes multimodal sea, land and air logistics solutions. Construction of the new logistics park will begin in Q4 2024, with the first tenants set to be welcomed in Q4 2025.
Source: mediaoffice.ae