This article is from the Australian Property Journal archive
PROLOGIS, the world’s largest owner of distribution facilities is set to develop its first distribution center in the Middle East.
The company has signed an agreement to design and build a 798,000 sq ft facility in Dubai for transportation company Aramex.
Aramex’s new facility is being developed in Dubai Logistics City.
DLC is the first phase of a government-backed, 140-square-kilometer, master-planned urban community called Dubai World Central. The $US33 billion project, which is under construction 40 kilometers from the existing Dubai International Airport, will eventually comprise one of the world’s largest, integrated multi-modal logistics platforms, including DLC, the planned Dubai World Central Airport and Jebel Ali Port. When completed, DLC will operate as a global logistics hub serving the Middle East, India, Africa and the Common Wealth of Independent States.
Construction on the distribution center has already commenced and is scheduled for completion in the second half of 2008.
ProLogis’ chief executive Jeff Schwartz said the group has been investigating business opportunities in this region for over a year and this is an excellent opportunity for ProLogis to begin its Middle Eastern operations
“Dubai, which benefits from a centralized location and immediate access to major modes of transport, is quickly becoming a gateway to the Middle East, with DLC set to serve as one of the largest supply chain communities in the world.
“Having a presence in this rapidly growing global logistics hub will enable us to become part of this burgeoning economic environment, and we are confident continued infrastructure development will drive further demand for our modern distribution space,” he added.
Australian Property Journal