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KEZAD Group, a subsidiary of AD Ports Group under the Economic Cities and Free Zones, and the largest operator of integrated and purpose-built economic zones in the UAE is set to transfer the management of approximately 750,000 square metres.
ANI
Feb 22, 2024 07:15 IST
Abu Dhabi [UAE], February 22 (ANI/WAM): KEZAD Group, a subsidiary of AD Ports Group under the Economic Cities and Free Zones, and the largest operator of integrated and purpose-built economic zones in the UAE is set to transfer the management of approximately 750,000 square metres of its built up assets to KEZAD Assets Management Company (KAMC), making it a key player in the industrial and logistics assets sector through strategic acquisitions, management, and operations.
KAMC was announced in October 2022 by KEZAD Group to focus on managing KEZAD Group's existing built-up assets. KEZAD Group currently has approximately 500,000 sqm of built-up assets and another 250,000 sqm is scheduled to be delivered by 2025.
The company will also acquire, maintain, and operate a portfolio of high-quality industrial and logistics assets, implementing strategies for asset-level value creation and preservation.
Abdullah Al Hameli, CEO of Economic Cities and Free Zones, AD Ports Group, said: "The establishment of KEZAD Assets Management Company is a pivotal step in our strategic expansion. Through this new venture, we are fostering a dynamic ecosystem of growth and innovation in the industrial and logistics sectors.
"KAMC is uniquely positioned to drive sustainable value and contribute significantly to the economic diversification of Abu Dhabi and the wider region."
Mohamed Al Khader Al Ahmed, CEO of Khalifa Economic Zones Abu Dhabi - KEZAD Group, added: "The launch of KEZAD Assets Management Company marks a new era for KEZAD Group, aligning with our vision to be a world-class industrial and logistics hub.
"This strategic step enhances our competitive edge, provides unparalleled services to our clients, and further solidifies our role as a key driver of the region's industrial growth and prosperity in Abu Dhabi."
The company will leverage global networking, client and broker relationships, and risk management for effective operation. The structure of KAMC includes functions such as deal sourcing and management, leasing and property management oversight, joint ventures and limited partnerships, and risk management, leveraging the expertise within the existing units of ECand FZ / KEZAD Group for efficient operation. (ANI/WAM)
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