Abu Dhabi Ports Group leased out 2.2 million square meters of industrial land to businesses in the first half of 2021, as rising economic activity within metals, food, technology and chemicals sector drove leasing activity.
The group leased land both in its industrial cities, as well as the free zones comprising Khalifa Industrial Zone Abu Dhabi (Kizad) and ZonesCorp.
"The rising demand on leasable land in Abu Dhabi for trade, logistics and industrial activities is a clear indication that the business ecosystem in the emirate continues to strengthen and grow,” Abdullah Al Hameli, head of Industrial Cities and Free Zone Cluster at Abu Dhabi Ports Group, said.
The UAE’s economy is expected to grow more than 4 per cent this year on the back of monetary and the fiscal support by the government and its rapid mass inoculation programme to curb the Covid-19 pandemic, Minister of Economy Abdulla bin Touq said. The UAE's IHS Markit Purchasing Managers' Index indicated continued momentum in the country's non-oil economy in August.
The industrial zones in Abu Dhabi are currently home to more than 1,500 businesses and some of the world’s leading global industrial players in sectors including advanced manufacturing, life sciences and biopharma, food and agricultural technology, machinery and equipment, maritime, logistics, chemicals and plastics.
It has also recently announced the completion of 1.38 million square metres of commercial and retail areas at Rahayel Automotive and Mobility City, the first integrated hub for the automotive industry in the region to accommodate a full range of auto-related businesses and support services.
Abu Dhabi Ports owns and manages 11 ports and terminals in the UAE and Guinea, including Khalifa Port, Zayed Port, Musaffah Port, Fujairah Terminals, Community Ports, Kamsar Port and Abu Dhabi Cruise Terminal. It operates more than 550 square kilometres of industrial zones within Kizad and ZonesCorp, the largest integrated trade, logistics and industrial business grouping in the Middle East.
Abu Dhabi Ports is set to go public before the end of the year, subject to market conditions and regulatory approvals, ADQ, the group's parent company, said.