Aldar Properties has partnered with DP World to fund and develop a 1.55 million square feet Grade A logistics park at National Industries Park (NIP) in Jebel Ali, Dubai. This strategic agreement aligns with Aldar's AED 1 billion investment plan to expand its logistics real estate business in Abu Dhabi and Dubai. The park will feature LEED-certified modular buildings for 3PL, eCommerce, and retail tenants. Construction starts in Q4 2024, with completion in Q4 2025. This collaboration enhances logistics capabilities, supporting business growth and diversification in Dubai's logistics sector, and underscores Aldar and DP World's commitment to innovative logistics solutions.
Aldar Properties, a real estate developer, investor, and manager in the UAE, has entered into a strategic agreement with DP World. Under this agreement, Aldar will fund and develop a 1.55 million square feet (144,000 square metres) Grade A logistics park at National Industries Park (NIP) in Jebel Ali, Dubai.
This partnership marks a significant milestone, granting Aldar the opportunity to develop and lease assets within NIP. NIP is strategically located near Jebel Ali Port and Al Maktoum International Airport and is well-connected to major road networks like the E11 and E311.
The logistics park aims to meet the high demand for warehousing facilities. It will target third-party logistics (3PL), eCommerce, and retail tenants looking to expand or relocate. The park will be Grade A and LEED certified, occupying a 2.36 million square feet (220,000 square metres) plot. It will consist of three modular buildings that can be modified to become single or multi-tenanted facilities, offering flexible unit sizes.
Aldar will oversee the full development cycle of the logistics park, from concept and design to execution and management. This project is part of Aldar'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 of Aldar Properties, remarked that this strategic agreement with DP World bolsters Aldar's presence within the logistics real estate sector and aligns with its broader expansion plans in Dubai. He noted the significance of the site's location within National Industries Park, which strategically positions Aldar in a logistics hotspot with excellent access to the port and the main highway to Dubai and Abu Dhabi. He emphasised that leveraging Aldar's expertise in both development and asset management, this unique project will play an integral role in the continued growth and diversification of Aldar's logistics offering.
Abdulla Bin Damithan, CEO & Managing Director of DP World GCC, stated that the collaboration with Aldar will expand the logistics capabilities at NIP, strengthening DP World's position as a critical distribution hub for major manufacturers and businesses in the FMCG segment. He mentioned that 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 customers. He highlighted DP World's dedication to delivering cutting-edge facilities and supply-chain solutions with its partners.
NIP is a 21-square-kilometre zone situated in the heart of Dubai's industrial district, offering a world-class supportive ecosystem for manufacturing and processing companies, including multimodal sea, land, and air logistics solutions. Construction of the new logistics park will begin in Q4 2024, with the first tenants expected to be welcomed in Q4 2025.
In summary, this strategic partnership between Aldar Properties and DP World represents a significant advancement in the logistics sector, providing crucial infrastructure to support growing business demands. The development of the logistics park at National Industries Park will not only enhance the logistics capabilities of the area but also contribute to the overall growth and diversification of the logistics real estate sector in Dubai. This collaboration underscores the commitment of both Aldar and DP World to delivering innovative and efficient logistics solutions, thereby fostering a robust economic environment for businesses operating in the region.
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