Kizad sees 15% rise in investment during Q1 2015
Abu Dhabi Ports signed nine standard musataha agreements (SMAs) during the first three months of this year, with strong interest from the construction and automotive sectors
Abu Dhabi Ports signed nine standard musataha agreements (SMAs) during the first quarter of 2015, representing 15% growth in Khalifa Industrial Zone (Kizad) investors.
So far, there has been strong interest from the construction, logistics, and automotive sectors. Four companies have announced their commitment to invest in the industrial zone: Gulf Precast, Advanced Manufacturing Solutions, National Catering Company, and Safe Care Medical.
A further five companies, including HCG, Afaq Al Khaleej, Schmidt Logistics, Naseem Al Bawadi, and Tmdeed, have also signed SMAs with Abu Dhabi Ports.
Capt Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports, commented: “The first quarter of this year has been an exceptional one. I welcome these new investors and congratulate them on choosing an ideal location to build their business operations. The many advantages offered by such close proximity to Khalifa Port and the industrial zone’s outstanding services and infrastructure will help each company to achieve its business goals.”
Combined, the nine new investors represent an investment worth more than $232m (AED853m), and their new plots cover a land area of more than 422,000m2. To date, 71 national and international outfits have chosen to invest in Kizad. Ten of these will have completed construction and will be fully operational by the end of this year.
Abu Dhabi Ports has now leased a total of 1,100 hectares in the trade and logistics zone, representing a total investment of more than $13bn (AED47.75bn). Once these investors are fully operational, Khalifa Port’s throughput is expected to increase by 900,000 tonnes of general cargo and containers annually.