ADAFZ, MSM Logistics sign AED 85 mn warehouse project
Abu Dhabi Airports Free Zone (ADAFZ) announced a new partnership with MSM Logistic LLC to develop a new building complex within the free zone at an investment value of AED 85 million. Maureen Bannerman, CCO, Abu Dhabi Airports, said, “The announcement is the latest example of our commitment to welcome international organizations into our free zone ecosystem and nurture its growth.” The project includes the construction of one warehouse with an area spanning 16,500 m2 with the possibility of splitting this area into three distinct pockets for multiple storage purposes–on a plot of land covering 28,623 m2. The first phase of the project is due to start in Q4 2023 and includes leasing an area of 28,623 m2, formalized through the signing of a Musataha agreement during ADIPEC, the world’s largest energy event, held in Abu Dhabi. The agreement entitles MSM Logistic to construct a building and lease the plot of land, at ADAFZ in proximity to the area where the first phase will begin in the Al Falah district.