JAFZA expands Logistics Park with investment of US $25mn
Infrastructure JAFZA expands Logistics Park with investment of US $25mn
By
The second phase comprises infrastructure, including modern offices, customisable units, temperature-controlled warehouses, loading docks, and power capacity to support diverse industries
Jebel Ali Free Zone (JAFZA) has invested approximately US $25mn in Phase 2 of its Logistics Park. Adding 360,000sqft of Grade-A facilities, the expansion aligns with the UAE's push to grow its logistics sector to $54.5bn annually in the next seven years and cements Dubai's role in international trade.
The second phase delivers infrastructure, including modern offices, customisable units, temperature-controlled warehouses, loading docks, and power capacity to support diverse industries. The Park, designed with sustainability in mind, incorporates precast concrete and off-site construction techniques to minimise its environmental impact. Additionally, it features skylights that maximise natural daylight, reducing energy consumption.
Abdulla Al Hashmi, Chief Operating Officer, Parks & Zones, DP World GCC said, 'The expansion of JAFZA Logistics Park reflects our commitment to helping businesses compete globally and simultaneously drive foreign investment into Dubai. Phase 1 was fully leased before completion, highlighting strong demand for quality logistics and warehousing, Phase 2 takes this a step further offering flexible, high-quality solutions to support growth in multiple sectors. This brings the total area of Jafza Logistics Park to over 922,000sqft as we continue to grow our infrastructure.'
With the Middle East and Africa's logistics market set to hit $235.8bn by 2031, demand for advanced warehousing is increasing, including in Dubai, where sectors like manufacturing, logistics, construction, and e-commerce are driving unprecedented growth. The park provides services such as packaging, labeling, and quality control, by real-time inventory tracking. Enables re-exports, domestic fulfillments, and import-export operations.
The newly expanded park bridges this gap by providing market access, enhancing connectivity with Jebel Ali Port, offering storage and handling solutions. These solutions encompass contract logistics, freight forwarding, and freight management, catering to a diverse range of industries, including tech and automotive parts, fashion, and packaged food.
The logistics hub currently houses 10,890 companies from 150 countries. These companies collectively support over 160,000 jobs and contribute $168.82bn annually to the global economy. Phase 1 of JAFZA's expansion, completed in November 2023, spans across 562,507sqft. This phase boasts Grade-A dry and pharmaceutical storage units, temperature-controlled warehouses, and office spaces.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
28 minutes ago
- Arabian Post
Debswana Scales Back Diamond Output Amid Global Market Slump
Debswana Diamond Company, Botswana's premier diamond producer, has initiated a significant reduction in its mining operations, citing sustained global demand weakness and mounting economic pressures. The company, a 50-50 joint venture between the Botswana government and De Beers, announced a temporary halt in production at key sites, including the Jwaneng Cut-9 and Orapa mines, aligning output with the subdued market conditions. This strategic move follows a challenging fiscal year for Debswana, which experienced a 46% decline in sales revenue in 2024 compared to the previous year. Production volumes also saw a downturn, with output dropping by 27% to 17.93 million carats. Looking ahead, the company has set a reduced production target of 15 million carats for 2025, marking a 16% decrease from the previous year's figures. The global diamond industry has been grappling with a confluence of adverse factors since mid-2023. Persistent low demand across the diamond pipeline, exacerbated by US-imposed tariffs, has created additional market pressures. An oversupply of certain diamond categories, particularly smaller and lower-quality stones, coupled with shifting consumer preferences towards lab-grown alternatives, has further disrupted traditional demand dynamics. Economic uncertainties in key markets, including inflationary pressures and changing luxury spending patterns, have compounded these challenges. ADVERTISEMENT In response to these market conditions, Debswana has implemented cost-saving measures, including the suspension of operations at the Letlhakane tailings and Jwaneng Modular plants. The company has emphasized its commitment to avoiding involuntary job cuts, offering voluntary separation packages to employees as part of its cost-control strategy. The downturn in the diamond market has had significant repercussions for Botswana's economy, which is heavily reliant on diamond revenues. Diamonds account for approximately 30% of the nation's revenue and 75% of its foreign exchange earnings. The economic contraction in 2024 was recorded at 3%, with the International Monetary Fund projecting a further 0.4% decline in 2025. The government has revised its 2025 economic growth forecast to near zero, a stark contrast to the 3.3% growth anticipated in its February budget presentation. Debswana's decision to scale back production is part of a broader effort to stabilize the market and manage operational costs. While some capital projects have been slowed down, long-term initiatives like the Jwaneng underground conversion will continue. The company aims to achieve significant cost savings across areas such as fuel and electricity consumption during this period of reduced activity. As Botswana navigates these economic challenges, the government continues to explore avenues for economic diversification. Efforts to boost sectors such as tourism, finance, and the mining of other minerals like copper are ongoing. However, the country's heavy dependence on diamond sales underscores the urgency of these diversification initiatives to mitigate the impact of future market downturns.
Middle East Eye
13 hours ago
- Middle East Eye
Israel has sold record amount of debt in US since war on Gaza erupted: Report
Israel has sold a record amount of debt in the US since its war on Gaza erupted on 7 October 2023, according to a report by Bloomberg on Friday. The government of Israel's US-based bond broker, Israel Bonds, says it has sold $5bn worth of debt in the last twenty months. The level of bond issuance is more than double that raised by Israel Bonds, in similar time periods previously. Israel's war on Gaza started after the 7 October 2023 Hamas-led attacks on southern Israel killed around 1,200 people. Israel responded by pummelling the Gaza Strip and invading it. More than 54,000 people, mainly women and children, have been killed in the Israeli attacks, and the population is facing "imminent famine", the United Nations says. Israel Bonds is affiliated with Israel's finance ministry and sells bonds inside the US to both retail and institutional investors. The starting price for non-tradable retail Israeli bonds is as low as $36. A five-year Israeli bond has a yield between 4.86 percent and 5.44 percent, according to the Bloomberg report. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters Along with its war on Gaza, Israel fought a devastating war with Hezbollah in Lebanon and launched widespread strikes on Syria. In 2024, it engaged in two rounds of direct missile and drone attacks with Iran. Israel's financing needs have soared as it looks to fund its military. Local Israeli creditors, including deep-pocketed institutional ones, account for about 80 percent of the government's lending overall. That leaves just twenty percent to come from international debt sales and what Israel Bonds sells in the US. According to the group, local US governments at the state and county level are big buyers in places like New York, Texas, Ohio, and Illinois. Palm Beach County in Florida became one of the world's largest investors in Israeli Bonds in 2024, with about $700m of its $4.67bn portfolio invested there. Israel has faced widespread criticism for its war on Gaza. The International Criminal Court has issued an arrest warrant for Prime Minister Benjamin Netanyahu and former Defence Minister Yoav Gallant for alleged war crimes. Meanwhile, public opinion on Israel has turned sharply negative from France to Japan. However, in March 2024, Israel saw strong demand for its debt among international investors. It sold $8bn in international bonds. Israel enjoys investment-grade ratings from major credit ratings agencies.
Fintech News ME
a day ago
- Fintech News ME
Egypt Launches Standardised Reporting Framework for Startups and Investors
Egypt's Micro, Small and Medium Enterprise Development Agency (MSMEDA), backed by World Bank, has collaborated with several venture capital firms and the US-based platform to introduce a standardised portfolio reporting framework for startups and investors across the country. Led by Foundation Ventures, the initiative includes participation from Algebra Ventures, Sawari Ventures, Shorooq Partners, Endure Capital, Camel Ventures, DenVC, LoftyInc Capital, DisrupTech Ventures, and the Climate Resilient Africa Fund. The aim is to establish common metrics, reporting timelines, and formats, addressing the longstanding issue of inconsistent data practices within Egypt's startup ecosystem. Although Egypt's startup scene has expanded significantly in recent years, inconsistent reporting standards remain a key challenge. Startups frequently contend with producing varied reports to meet different investor requirements, while venture capital firms face difficulties in assessing portfolio performance due to the absence of unified benchmarks. The initiative seeks to simplify reporting processes for both general partners (GPs) and portfolio companies through a centralised data platform designed to enhance transparency, reliability, and operational efficiency. 'We are excited about enhancing Egypt's investment attractiveness by providing the necessary transparency to encourage foreign direct investment,' said Mazen Nadim, Managing Partner at Foundation Ventures. Following a competitive selection process, was chosen to develop and operate the platform. The company is working in partnership with Egyptian GPs to tailor the system to local requirements and workflows. The platform is expected to be fully implemented by the end of the second quarter of 2025, with the first comprehensive ecosystem report anticipated by mid-2026. By introducing a unified reporting framework, the effort is expected to ease administrative burdens for startups, provide greater clarity for investors, and strengthen Egypt's position as a destination for regional and international venture capital.
