First Estidama-rated warehouses now complete
Phase one of Kizad Logistics Park completed; phase two to commence
The first phase of Kizad Logistics Park (KLP) has now been completed and the Estidama-rated warehouse units are being handed over to tenants.
“The project is now ready and is being handed over,” said Charles Acworth, acting vice president, project development at Kizad. “We have tenants who have moved in.”
Phase one covers an area of over 40,000m2 with standard warehouse units of 1,133m2. Thirty four out of the 41 units have been pre-leased, making up 83% of the entire phase. And Acworth expects this to reach 100% before mid-2014.
The biggest deal has been made with Agility, who has leased 10 warehouses. Other companies include United Printing & Publishing, Protect Middle East, Al Sabah Foodstuff, Creative Communication, Galaxy Building Materials Trading, Back Office Logistics and Oriental Fasteners.
Each warehouse is equipped with easy access loading docks for trucks, docked floor levels and a seven meter clear open space to eaves, as well as a dedicated loading yard with ramp access for forklifts and ample on-site parking. Additionally, each unit has its own office area with toilets and kitchenette.
System Construct was awarded the AED100mn ($27mn) contract for phase 1.
Construction for phase 2 will commence shortly, as Acworth stated that they are in negotiations with contractors. “I would expect that in the next two to three weeks, we can announce the appointment of contractors for the second phase,” he said.
Acworth expected the phase to be completed by February 2015.
The KLP will provide an overall area of 118,965m2 after the completion of the three phases.
Acworth added that Kizad is also developing a product which will be ready in early 2016 that will provide small light industrial units.