Herald Holdings signs pact to expand biz at SAIF Zone
Herald Holdings has signed an investment agreement with the Sharjah Airport International Free Zone (SAIF Zone) to expand its cargo operations and strengthen its presence in the region. The agreement was signed by Saud Salim Al Mazrouei, Director, SAIF Zone, and Krishna Kaladharan, MD, Herald Holdings marks a significant milestone in the company’s growth strategy. Under the deal, Herald Holdings has secured 173,000 square feet on lease in SAIF Zone. This move will enable the company to construct a logistics facility tailored to cater to multiple sectors, including hospitality, consumer goods, and construction. The expansion plan will be further reinforced by the free zone’s advantageous location and access to high-growth markets in the Middle East, Africa, and Asia. Herald Holdings’ total investment in the free zone will increase to AED30 million. The company’s operational footprint in SAIF Zone is set to expand to a sprawling 227,000 sq.ft., considering the additional 54,000 sq.ft warehouse it rented in 2022.