Transaction reflects the Group’s strategy to actively manage its expanding asset portfolio
AD Ports Group recently announced the sale of KEZAD Logistics Park – KLP Free Zone 3 (FZ3) in Abu Dhabi, a free zone industrial and logistics group of warehouse assets to Mair Group.
Located within KEZAD Al Ma’mourah, KLP Free Zone 3 benefits from proximity to Khalifa Port and direct access to major transport corridors, providing efficient connectivity to regional and international markets.
The transaction comprises the sale of the warehouses together with a land lease under a 50-year Musataha arrangement, for a total value of AED 295mn, payable over a two-year period, including an AED 74mn upfront payment. The proceeds of the transaction will be used to de-lever the Group’s balance sheet.
Purpose-built blocks
KLP Free Zone 3 spans a total land area of 128,451sqm, with 59,822sqm of gross leasable area across four purpose-built blocks designed to support a range of industrial and logistics activities.
“This sale strengthens our balance sheet and enables the redeployment of capital into new infrastructure and growth opportunities across our Economic Cities and Free Zones portfolio,” stated Abdullah Al Hameli, CEO, Economic Cities & Free Zones, AD Ports Group.
As part of the transaction, AD Ports Group will provide interim operational and maintenance support to Mair Group for a period of up to three months under a Transition Services Agreement, ensuring a smooth handover, a press communique concluded.
