Aldar Properties, a leading real estate developer, investor and manager in the UAE, and DP World have signed a strategic agreement to develop a 144,000 square meter Grade A logistics park at the National Industries Park (NIP) in Jebel Ali, Dubai.
The agreement with DP World will provide Aldar access to develop and lease assets within NIP. The park has a strategic location near Jebel Ali Port and Al Maktoum International Airport. In addition, it is well-connected to major road networks such as the E11 and E311.
Aldar’s AED1 billion investment
Catering to the high demand for warehousing facilities, DP World and Aldar’s 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 220,000 sqm plot. In addition, it will include three modular buildings that can transform into 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. DP World and Aldar’s project falls under the company’s recent AED1 billion investment announcement. This investment aims to expand its logistics real estate business in Abu Dhabi and Dubai. As the business grows, Aldar aims to raise its investments in the sectors.
“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 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,” stated Talal Al Dhiyebi, Group CEO of Aldar Properties.
Read: Dubai to get world’s largest fruit and vegetable trade logistics hub
NIP’s strategic location
NIP is a 21-square-kilometer zone in the heart of Dubai’s industrial district. The park has a world-class supportive ecosystem for manufacturing and processing companies. This includes multimodal sea, land and air logistics solutions.
Notably, the construction of the new logistics park will begin in Q4 of 2024. In addition, DP World and Aldar expect the first tenants to arrive in Q4 of 2025.
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,” he added.
For more news on logistics, click here.
