DUBAI: Khalifa Industrial Zone Abu Dhabi (Kizad) announced it say stable growth in leases in 2016, resulting in more than two million square metres of space let out during the year.
New leases included 20 standard mustaha agreements, long-term agreements which give investors ownership rights over assets developed on their leased plot.
Kizad, part of Abu Dhabi Ports, said in a statement that its contribution to Abu Dhabi’s economy reached 3.2 per cent of the emirate’s non-oil GDP.
The industrial zone now has more than 130 investors, with 14.5 million square metres of space leased out, and more than DH40 billion invested.
Mohammad Juma Al Shamisi, CEO of Abu Dhabi Ports, said, “We are delighted with the impressive growth Kizad achieved in 2016.
“The success of the industrial zone can be attributed to the new robust partnerships and the ability to stay ahead of the competition by consistently investing in its facilities, technology, and processes. This has enabled us to deliver outstanding performance and enhance our service offering. We have also capitalised on the growth opportunities created through the ongoing expansion of Khalifa Port.”
Mana Al Mulla, CEO of Kizad, said, “In 2016, we made great strides in building Kizad’s capabilities towards positioning it as one of the foremost port-integrated industrial zones in the region. We have expanded our client base significantly across a diverse range of sectors and industries, through building long-term relationships with our tenants and catering to their dynamic requirements, demonstrating that our strategy for growth is delivering robust results.”
