Waha Land was established as a wholly-owned subsidiary of Waha Capital to construct and manage master developments in Abu Dhabi including infrastructure, mixed use, industrial warehousing and logistics projects.
ALMARKAZ is an integrated mixed-use industrial development with Grade “A” industrial/logistics facilities and first class infrastructure. The project is located in Al Dhafra, approximately 35 km from central Abu Dhabi, and is well located to access the multi-modal industrial and logistics infrastructure (land, sea, air, and future rail) of the U.A.E. The ALMARKAZ development is on a 6 km2 area of land, which was granted by the Government of Abu Dhabi.
Phase 1 of the project occupies 25% of the total land area (1.5 km2). Stage 1 of Phase 1 involved the construction of roads and services infrastructure for the 1.5 km2 of land and 90,000 m2 of small industrial units (SIU’s). The SIU’s are fully leased out with a range of tenants from diverse industry segments in the SME space such as plastic and paper manufacturing, food preparation, oil & gas, defence and logistics.
In June 2016, Waha Land signed a AED 426 million financing with a local bank for further development of Phase 1 within ALMARKAZ, following the successful leasing of existing facilities. This expansion, called Stage 2, will add 187,000 m2 of premium industrial and logistics facilities and will also include retail and commercial amenities to enhance the business park experience of ALMARKAZ. Stage 2 is being constructed in two packages (2a & 2b), with the initial Stage 2a consisting of 92,500 m2 of built up area.
The construction of Stage 2a commenced in June 2016. Stage 2a units are expected to be available for occupancy by early Q1 2018, with marketing of these units currently ongoing. The Stage 2 development will include flexible industrial buildings, as well as ready to occupy industrial units, warehouse and storage facilities, commercial office and retail units to serve the growing working population at ALMARKAZ. This expansion is in line with the Waha Land’s underlying ethos to execute a consistent and disciplined investment approach with emphasis on flexible assets to suit a variety of uses and support a diverse range of tenants and industry segments.
Waha Land’s growth strategy with respect to ALMARKAZ is focused on continuing to grow and diversify its tenant base, developing new products and services for its existing and prospective tenants, and providing exceptional services with the ultimate aim of meeting the needs of UAE SMEs as well as manufacturing and logistics players.
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