Airport company looks to develop logistics in UAE
An airport company in the United Arab Emirates
(UAE) is holding talks about constructing a potential logistics park in the region.
The Abu Dhabi
Airports Company (Adac) is launching talks with foreign investors regarding the formation of a joint venture which would see the construction of commercial property in the UAE.
Saeed Al Mulla, vice president for business park development at Adac, revealed that companies interested in the venture hail from worldwide locations in spite of the global economic crisis.
"We have to first focus on the UAE … What is happening will have an impact but so far we have not experienced it. There is demand for [logistics] space despite the financial crisis," he said.
The first phase of development is expected to be completed in mid 2010, with 25 companies already reserving space for commercial property in the UAE as part of the 45,000 sq m warehousing area.
Adac was launched in 2006 and aims to maintain facilities and provide UAE airports with technical and management services.