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ABU DHABI/GULF TIME
MAIR Group PJSC (ADX: MAIR) (“MAIR” or the “Group”), a strategic investment company focused on grocery retail and commercial real estate in the UAE, announced today that it has entered into an Agreement with AD Ports Group to acquire KEZAD Logistics Park – KLP Free Zone 3 (FZ3), a free zone industrial and logistics group of warehouses, executed through its wholly owned subsidiary, Makani Real Estate.
Located within KEZAD Al Ma’mourah, KLP Free Zone 3 benefits from proximity to Khalifa Port and direct access to major transport corridors, providing efficient connectivity to regional and international markets. The transaction comprises the acquisition of the warehouses together with a land lease under an extendable 50-year Musataha arrangement, with a total deal value of AED 295 million, payable over a two-year period, including an upfront payment of AED 74 million. KLP Free Zone 3 spans a total land area of 128,451 square metres, with 59,822 square metres of gross leasable area across four purpose-built blocks designed to support a range of industrial and logistics activities.
Nehayan Hamad Alameri, Managing Director and Group CEO, MAIR Group, commented: “The transaction reflects MAIR Group’s disciplined approach to portfolio expansion through selective investments in income-generating commercial real estate assets. It reinforces Makani Real Estate’s role within the Group and aligns with our focus on long-term shareholders’ value.”