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Kezad launches new phase of warehousing developments:AD Ports Group subsidiary Khalifa Economic Zones Abu Dhabi (Kezad) will invest AED 621 mn (USD 169 mn) to develop an additional 250k square meters (sqm) of warehousing capacity, according to a press release. The move is slated to expand Kezad’s pre-built industrial and logistics warehousing capacity by 43% by the end of 2025, the statement notes.
Details: Kezad will develop upwards of 97.5k sqm of leasable area in Khalifa Industrial Area and over 153k sqm of leasable area in Kezad Musaffah with developments including prebuilt facilities that include logistics and distribution warehouses, cold storage, light industrial units (LIUs) and showrooms, the statement notes.
Background: Over 270k sqm of additional warehouse space has been delivered in the zone since 3Q 2022, accounting for 66% of leased area. The zone had around 587k sqm of prebuilt industrial and logistics facilities — including 93k sqm of cold storage facilities — in 3Q 2023.
Supporting Abu Dhabi’s growing non-oil sector: The emirate handed out 24.1k new commercial sector licenses in 2023, with the total capital of new economic licenses for the year valued at AED 210.7 bn, Wam reported citing Abu Dhabi Department of Economic Development’s (ADDED) Abu Dhabi Business Activity 2023 report. Non-oil businesses account for 52.8% of Abu Dhabi’s GDP, the report said.
Other projects in the works: The group inked a non-binding term sheet agreement with Hong-Kong based aerospace outfit USPACE Technology this month to explore the development of a space eco city hub in Abu Dhabi. Under the agreement’s terms, Kezad will provide USPACE with some 3 mn sqm for the project, with its first phase expected to cover 1 mn sqm. Construction is expected to kick off in mid-2024.
