Abu Dhabi – Mubasher: Khalifa Economic Zones Abu Dhabi (KEZAD Group), a subsidiary of AD Ports Group, signed another 50-year lease agreement with Azizi Developments at an amount of AED 2 billion.
Azizi Developments will facilitate the growth of its manufacturing and logistics capabilities, according to a press release.
Spanning nearly 440,000 square meters, the newly leased plots located in KEZAD will accommodate twelve factories to boost production capacity, reinforce supply chain resilience, and advance Azizi’s growing project pipeline.
Abdullah Al Hameli, CEO of Economic Cities and Free Zones at AD Ports, said: “We provide the land, infrastructure, and connected logistics platform that allow major companies to grow, operate at scale, and deliver with certainty.”
“This agreement supports Abu Dhabi’s industrial expansion and strengthens the long-term partnership between KEZAD and Azizi as they continue to invest in advanced production and supply chain capabilities,” Al Hameli continued.
In October 2024, both parties signed their first 50-year land lease agreement in KEZAD A (KEZAD Al Ma’mourah) to meet the growing demand of the housing industry in the region.
Azizi Developments injected an initial AED 1 billion investment to develop a reinforcement steel cut and bend facility, an aluminium and glass fabrication unit, as well as an aluminium extrusion factory.
Earlier this month, Karachi Gateway Terminal Multipurpose Limited (KGTML), part of Noatum Ports, inked a long-term commercial agreement with Louis Dreyfus Company Pakistan Limited.
