Sunday, March 12, 2017

5 new projects get under way at ZonesCorp

ZonesCorp, one of the largest operators of purpose-built economic zones in the UAE, has announced a strong start to 2017 with five investors building new facilities in the Industrial Cities in Abu Dhabi (ICAD).

Situated in ICAD’s I & III, the new facilities, which cover a total area of 230,779 sq m, will represent a combined investment of Dh160 million ($44 million), said a statement from ZonesCorp.

After finalising deals with ZonesCorp at the end of 2016 / beginning of 2017, the investors are due to start construction in the coming months and cover a range of sectors in some of ZonesCorp’s core markets, including warehousing and logistics, F&B, SMEs and Heavy Machinery, it stated.

Falah Al Ahbabi, the chairman of ZonesCorp, said: "I am delighted with the progress we have made already this year and we are working hard to develop, manage and promote world-class economic zones that spur the sustainable growth, economic development and industrial diversification across the emirate of Abu Dhabi."

Saeed Eisa Al Khyeli, the director general of ZonesCorp said: "We are positive about the coming year and early indications suggest that we will continue to see a steady flow of high quality investments on ZonesCorp acreage as 2017 progresses."

The companies building new facilities in the ICADs are:
*Innovida Warehouses Management - A major UAE-based company that provides high-end premises to serve companies operating in logistic and supply chain services
*Fibrex Construction Group - A major turnkey construction group handling projects in the Gulf and across the Middle East with various categories ranging from residential, commercial, leisure, private, governmental and educational categories.
*Petro Hub - An industrial investment company, subleasing warehousing units to SME industrial projects, showrooms, and exhibitions.
*Riviere Mineral Water Factory - A well-established mineral water company that is expanding into  new facilities and Aertssen Group, a Belgian family business which is currently one of the leading earth moving, heavy lift and heavy transport contractors in Europe.

"These new investments underpin our position as the strategic partner of choice for industrial and manufacturing developments in the UAE. The ZonesCorp model is distinct from a ‘free-zone’ allowing investors to easily access rapidly developing internal and external markets," noted Al Khyeli.

"We are very happy to see these projects move forward and are looking forward to continuously work together with the investors to help them fully realise their ambitions," he added.

Since its inception, ZonesCorp has played a key role in developing the industrial sector in the UAE.

Currently housing over 650 industrial facilities, ZonesCorp has attracted over Dh29 billion ($7.9 billion) worth of investments from local and international companies into its economic zones.-TradeArabia News Service

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