Abu Dhabi – Mubasher: Aldar Properties has signed a strategic agreement with DP World to fund and develop a 1.55 million square feet (144,000 square meters) Grade A logistics park at National Industries Park (NIP) in Dubai’s Jebel Ali.

This landmark project marks a new partnership that will grant Aldar access to develop and lease assets within NIP, strategically located near Jebel Ali Port and Al Maktoum International Airport, and well-connected to major road networks such as the E11 and E311, according to a press release.

The project will cater to the high demand for warehousing facilities, targeting third-party logistics (3PL), e-commerce, and retail tenants looking to expand or relocate.

The Grade A and LEED-certified logistics park will be situated on a 2.36 million square feet plot and will feature three modular buildings that can be adapted for single or multi-tenant use, offering flexible unit sizes.

Aldar will oversee the entire development cycle of the logistics park, from concept and design to execution and management.

This project is part of the company’s recently announced AED 1 billion investment to expand its logistics real estate business in Abu Dhabi and Dubai, with plans for further investment as the business grows.

Talal Al Dhiyebi, Group CEO of Aldar Properties, stated: “This strategic agreement with DP World further bolsters our presence within the logistics real estate sector and aligns with our broader expansion plans in Dubai.”

Abdulla Bin Damithan, CEO & Managing Director of DP World GCC, commented: “Our collaboration with Aldar will expand the logistics capabilities at NIP, strengthening our position as a critical distribution hub for some of the biggest manufacturers and businesses in the FMCG segment.”

NIP is a 21 square kilometre zone situated at the heart of Dubai’s industrial district, offering a world-class supportive ecosystem for manufacturing and processing companies that includes multimodal sea, land, and air logistics solutions.

Construction of the new logistics park will begin in the fourth quarter (Q4) of 2024, with the first tenants expected in Q4-25.

It is worth noting that Aldar Properties’ net profit surged by 88% to AED 1.57 billion in the first quarter (Q1) of 2024 from AED 835.79 million in Q1-23.

In April 2024, DP World received a new mobile harbour crane to boost productivity and efficiency for the benefit of customers.