Khalifa Economic Zones Abu Dhabi (KEZAD Group) has signed a 50-year land lease agreement with Grade A warehouse operator StockSpace and project master developer Axione Development.
The agreement aims to establish a state-of-the-art Grade A warehouse facility in KEZAD Area A (KEZAD Al Ma’mourah).
StockSpace has invested $13.6 million (AED 50 million) to set up its 14,200 square meter facility which will significantly contribute to the growth of F&B and FMCG industries in the region by providing prime quality warehousing space and operations. The company’s operations are set to create around 100 new jobs at the facility in KEZAD.
Mansoor Al Marar, Vice President of Industrial Business Development at KEZAD Group, said that, “As a key enabler of Abu Dhabi’s Industrial Mission, we provide an innovative environment in KEZAD to boost local manufacturing, enable world-class logistics setup for efficient distribution operations, and develop ancillary industries to facilitate growth. We will continue to deliver world-class industrial ecosystems that create market opportunities for the F&B sector. Our partnership with StockSpace is a significant step in this direction, to build capacity and improve the economic landscape for the industry in KEZAD.”
Georgy Gvilava, CEO, StockSpace, highlighted that, “As we begin our partnership with KEZAD, we will stay focused on our goals for sustainable innovation to stay ahead in the market, and achieve our long-term success plans.”
Mikhail Zarkhi, Managing Partner, Axione Development, stated that, “It is an honor for us to develop a top-class state-of-the-art Grade A warehouse facility for StockSpace, which will contribute to the further development of KEZAD and the Emirate of Abu Dhabi.”
