Aldar Properties, a leading real estate developer in the UAE, has signed a strategic agreement with DP World to develop a 1.55 million sqft (144,000 sqm) Grade A logistics park at National Industries Park (NIP) in Jebel Ali, Dubai.
This ambitious project will enhance Aldar's footprint in the logistics sector and cater to the increasing demand for warehousing facilities.
Situated near Jebel Ali Port and Al Maktoum International Airport, NIP offers exceptional connectivity via major road networks, including E11 and E311. The new logistics park, built on a 2.36 million sqft (220,000 sqm) plot, will consist of three modular buildings designed for flexibility, accommodating third-party logistics (3PL), eCommerce, and retail tenants.
Aldar will oversee the entire development cycle, from design to execution, as part of its AED 1 billion investment strategy aimed at expanding its logistics real estate portfolio in Abu Dhabi and Dubai.
Talal Al Dhiyebi, Group CEO of Aldar Properties, emphasized the significance of the partnership, stating that it strengthens their logistics presence and positions them strategically within a logistics hotspot.
Abdulla Bin Damithan, CEO of DP World GCC, noted that this collaboration will enhance logistics capabilities at NIP, benefiting over 330 businesses in the area.
Construction is set to commence in Q4 2024, with the first tenants expected to move in by Q4 2025, marking a significant step in Dubai's logistics landscape and supporting the growing needs of its industrial sector.
News Source: Dubai Media Office
