Adac to build logistics park
01 July 2009
ABU DHABI Airports Company (Adac) has signed a joint venture agreement with Helios SinoGulf Property Development to create a logistics and business park, which will be a 650,000 sq m free zone adjacent to Al Ain International Airport.
Work will start immediately on the development, which will include office space, distribution centres, light industrial units, freight forwarding stations and supporting facilities in a business park that will cater to the needs of air cargo, aerospace, and related industries. The first phase, representing an investment of more than Dh900 million ($250 million), is scheduled for completion towards the end of next year.
This development is in line with Adac’s greater development strategy for Al Ain International Airport, and the needs of the emirate’s increasingly diverse economy.
Helios SinoGulf is a joint venture between Helios Properties and SinoGulf Real Estate Investments of Abu Dhabi, formed last November to develop warehousing and logistics parks across the GCC.
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