Kizad registers strong performance in 2016
The zone registered stable growth in leasing activity last year that resulted in 20 new standard Musataha agreements, increasing the number of investors to over 130
Khalifa Industrial Zone Abu Dhabi (KIZAD) has registered strong growth in 2016, contributing 3.2% to Abu Dhabi’s non-oil GD and pushing diversification efforts.
The zone registered stable growth in leasing activity last year that resulted in 20 new standard Musataha agreements (SMAs) with local, regional, and international customers, increasing the total number of investors to over 130 to date.
From this 130, 88 investors have leased land through Musataha agreements, 21 invested in KIZAD’s Logistics Park, and 25 are free zone companies in different sectors.
New investors in 2016 have each leased an average land size of 70,000sqm, which brings the total areas leased last year to more than two million square metres.
This has increased the total size of prime industrial leased areas to 14.5 million square metres since the zone’s opening in 2010.
Mana Al Mulla, CEO of KIZAD said: "In 2016, we made great strides in building KIZAD’s capabilities towards positioning it as one of the foremost port-integrated industrial zones in the region.
“We have expanded our client base significantly across a diverse range of sectors and industries, through building long-term relationships with our tenants and catering to their dynamic requirements, demonstrating that our strategy for growth is delivering robust results."
KIZAD’s objectives are in line with the Abu Dhabi Economic Vision 2030 that aims to diversify the emirate’s economy away from hydrocarbon resources. Since its launch in November 2010, the industrial zone has attracted investments valued at over $15bn (AED55bn) across a variety of sectors.