Abu Dhabi: Khalifa Economic Zones Abu Dhabi – KEZAD Group has announced the signing of a 50-year land lease agreement with Grade A warehouse operator StockSpace and project master developer Axione Development to establish a state-of-the-art Grade A warehouse facility in KEZAD Area A (KEZAD Al Ma’mourah). StockSpace has invested AED50 million to set up its 14,200 square metre facility that will significantly contribute to the growth of FandB 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.
According to Emirates News Agency, Mansoor Al Marar, Vice President of Industrial Business Development at KEZAD Group, emphasized the project’s role as a key enabler of Abu Dhabi’s Industrial Mission. He highlighted KEZAD’s commitment to providing an innovative environment to boost local manufacturing, enable world-class logistics setup for efficient distribution operations, and develop ancillary industries to facilitate growth.
He further stated that the continuous delivery of world-class industrial ecosystems is intended to create market opportunities for the FandB sector. The partnership with StockSpace is seen as a significant step towards building capacity and improving the economic landscape for the industry in KEZAD.