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Azizi Developments will invest AED 1 bn in developing 12 building material factories in Abu Dhabi’s Khalifa Economic Zones’s (Kezad) A cluster, according to a press release. The company signed a 50-year land lease agreement with AD Ports Group to set up the factories over a 220k sqm area.
The planned facilities include a reinforcement steel cut and bend facility, timber joinery, duct fabrication workshops, aluminum and glass fabrication unit, and an aluminum extrusion factory.
The rationale: Azizi’s move into the manufacture of building materials aims to respond to the demand in commercial real estate, which has seen a steady rise as a result of rapid population growth and the influx of international investors into the UAE to expand their operations.
Background: The developer is currently working on the world’s second-tallest tower in Dubai, which will reach 725 meters. The USD 1.5 bn Burj Azizi is set to be completed in 2028, including a vertical mall, luxury residences, a seven-star hotel, and restaurants.
