Kizad announced the first third party logistics company tenant. A 50 year Musataha Agreement was signed by Khaled Salmeen Al Kawari, CEO and Managing Director of Kizad, and Alaa Ibrahim, President & CEO, IBR Group Inc.
IBR Group Inc. will be assigned a 474,128.73 square feet plot in the logistics free zone cluster in Kizad’s Area A and will set up a temperature controlled supply chain building on Kizad’s existing distribution service offerings.
By signing with Kizad, IBR Group, with offices in UAE, Germany, Canada and Qatar, will have the opportunity to provide value added services to leading local and international organizations also investing in Kizad.
Commenting on IBR Group’s investment, Mr. Khaled Salmeen 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.”
IBR Group Inc. is a privately owned Canadian engineering and project development company that has had a presence in the Gulf region since 1994 and offices in UAE, Germany Canada and Qatar.
Kizad provides outstanding access to global markets through its world class infrastructure, low operating cost environment, through highly competitive utilities and land leasing rates and ease of doing business provided through the One-Stop-Shop and the new online portal where all applications can be tracked. With Kizad’s 51 square kilometers of Area A complete, many of Kizad’s investors have begun mobilizing on their respective plots where work is underway to construct their manufacturing plants.