Khalifa Industrial Zone Abu Dhabi (Kizad) has signed its first 3PL tenant, the firm announced.
A 50 year Musataha Agreement was signed with IBR Group. A Musataha Agreement gives IBR, who will be assigned a 474,128.73 square feet plot in the logistics free zone cluster in Kizad's Area A, the legal right to build and develop the land.
The agreement was signed by Khaled Salmeen Al Kawari, CEO and managing director of Kizad, and Alaa Ibrahim, President and CEO, IBR Group. Kizad said through a statement that the IBR Group, with offices in UAE, Germany, Canada and Qatar, will have the opportunity to provide value added services to leading local and international organisations also investing in Kizad.
Al Kawari said: "IBR's investment in Kizad's free zone will allow us to further develop our distribution hub, making Kizad an ever more appealing destination for business partners dependent on cold storage and transportation. This agreement is yet another step towards making Kizad the industrial zone of choice in the region."
Amr Ibrahim, COO and Partner, IBR said: "With our trust in the importance of Kizad, we are planning to build the largest freezers in the region that will be ready to serve our clients by August 2014, as construction works have already begun. Kizad's access to global markets means that IBR will be able to assist local and regional businesses get their products to market quicker and more efficiently."