ADAC Announces JV With Helios Sinogulf To Develop A Business And Logistics Park At Al Ain Airport
Abu Dhabi Airports Company in Joint Venture with Helios SinoGulf to create a 650,000 mƒU Free Zone business and logistics park at Al Ain International Airport
Abu Dhabi Airports Company (ADAC) announced today that it has signed a joint venture agreement with Helios SinoGulf Property Development LLC to develop a logistics and business park under free zone regulation adjacent to Al Ain International Airport.
The development will cover 650,000 square metres and 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 of development represents an investment of more than AED 900 million (US $250 million). The development will start immediately and the first phase is scheduled for completion towards the end of 2010.
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.
H.E. Khalifa Mohamed Al Mazrouei, Chairman of ADAC, said: “ADAC is firmly committed to the development of Al Ain International Airport as a hub for low cost carriers and dedicated air cargo freighters. We are joining forces with renowned industrial property developer Helios SinoGulf to create world class facilities supporting the air cargo business of Al Ain airport. The park will also cater to the demand of the upcoming high tech industry and aircraft Maintenance and Repair Operations activities poised to take place in Al Ain airport. This in turn will support and contribute to the growth and diversification of Al Ain economy and the rest of the UAE”.
Mr. Trevor Cartner, Chairman of Helios SinoGulf said: “Al Ain sits at the centre of the distribution networks of the UAE and Oman. It is equidistant from five seaports on the east and west coasts, has great road access into the major population centres, has excellent airport facilities for cargo operations and offers operators and businesses many benefits in comparison with other logistics development locations”.
Helios SinoGulf is a Joint Venture formed in November 2008 between Helios Properties PLC and SinoGulf Real Estate Investments LLC of Abu Dhabi with the intent to develop warehousing and logistics parks across the GCC.
