Joint venture to open free zone at Al Ain
29 / 06 / 2009
ABU Dhabi Airports Company (ADAC) has signed a joint venture agreement with Helios SinoGulf Property Development 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. Development will start immediately and the first phase – worth more than AED 900 million (US$250 million) – is scheduled for completion towards the end of 2010.
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”.