Press releases
17 Jun, 2009
ADAC announces JV with Helios SinoGulf to develop a business and logistics park at Al Ain airport
Abu Dhabi Airports Company in Joint Venture with Helios SinoGulf to create a 650,000 sqm Free Zone business and logistics park at Al Ain International Airport
Abu Dhabi, United Arab Emirates, 17 June 2009: Abu Dhabi Airports Company (ADAC) announced today that it has signed a joint venture agreement with Helios SinoGulf Property Development LLC to develop a logistics and business park under free zone regulation adjacent to Al Ain International Airport.
The development will cover 650,000 square metres and will include office space, distribution centres, light industrial units, freight forwarding stations and supporting facilities in a business park, that will cater to the needs of air cargo, aerospace, and related industries. The first phase of development represents an investment of more than AED 900 million (US $250 million). The development will start immediately and the first phase is scheduled for completion towards the end of 2010.
This development is in line with ADAC’s greater development strategy for Al Ain International Airport, and the needs of the emirate’s increasingly diverse economy.
H.E. Khalifa Mohamed Al Mazrouei, Chairman of ADAC, said: “ADAC is firmly committed to the development of Al Ain International Airport as a hub for low cost carriers and dedicated air cargo freighters. We are joining forces with renowned industrial property developer Helios SinoGulf to create world class facilities supporting the air cargo business of Al Ain airport. The park will also cater to the demand of the upcoming high tech industry and aircraft Maintenance and Repair Operations activities poised to take place in Al Ain airport. This in turn will support and contribute to the growth and diversification of Al Ain economy and the rest of the UAE”.
Mr. Trevor Cartner, Chairman of Helios SinoGulf said: “Al Ain sits at the centre of the distribution networks of the UAE and Oman. It is equidistant from five seaports on the east and west coasts, has great road access into the major population centres, has excellent airport facilities for cargo operations and offers operators and businesses many benefits in comparison with other logistics development locations”.
Helios SinoGulf is a Joint Venture formed in November 2008 between Helios Properties PLC and SinoGulf Real Estate Investments LLC of Abu Dhabi with the intent to develop warehousing and logistics parks across the GCC.
About Abu Dhabi Airports Company (ADAC):
Abu Dhabi Airports Company (ADAC) is a public joint-stock company wholly owned by the Abu Dhabi Government. It was incorporated by Amiri Decree number 5, issued on 4th March 2006, to spearhead the development of the Emirate's aviation infrastructure.
In September 2006 ADAC took over responsibility for the operation and management of Abu Dhabi and Al Ain international Airports. In 2008, ADAC added Al Bateen private jet airport, formerly Al Bateen military airbase, and Sir Baniyas Island Airport to its portfolio. These airports all serve different segments of the marketplace and help contribute to Abu Dhabi’s development as a destination for both business and leisure tourism.
Currently under way is the large scale AED 25 (US $6.8) billion re-development and expansion of Abu Dhabi International Airport designed to increase the overall capacity of the airport to more than 20 million passengers per year. As part of this redevelopment, a second runway and a third terminal have been completed. A new ATC tower and the Midfield Terminal Complex will complete the redevelopment within the next few years.
About Helios SinoGulf :
Helios SinoGulf is a Joint Venture formed in November 2008 between Helios Properties PLC and SinoGulf Real Estate Investments LLC of Abu Dhabi with the intent to develop warehousing and logistics parks across the GCC. Helios Properties PLC is a specialist industrial property development company working throughout the UK and wider continental Europe, and has developed well known logistics parks in the United Kingdom, Romania, Croatia, Hungary, Germany and many others. SinoGulf Real Estate Investments LLC, known as SinoGulf Investments, was established in Abu Dhabi in 2003 to develop real estate opportunities and assets within the Gulf region. SinoGulf is also a large investor within the Sharjah Investment Centre and the Abu Dhabi Business Hub. It has a number of subsidiaries and associates including SinoGulf (DIFC) Limited, an Asset Management subsidiary that is licensed by the DFSA.
For more information please contact:
David Ogden, Helios SinoGulf LLC (Abu Dhabi) Tel: +971 2 495 5000
Robert Waugh, SinoGulf Real Estate Investments LLC Tel: +971 2 495 5000
Trevor Cartner, Helios Properties Plc Tel: +44 (0) 20 7629 6452
