UAE's AD Ports, Egypt's SCZONE sign 50-year concession to develop KEZAD East Port Said
Egypt's General Authority for the Suez Canal Economic Zone (SCZONE) and the UAE's AD Ports Group have signed a 50-year renewable usufruct agreement to develop and operate a 20-square-kilometre (sq km) integrated industrial and logistics park near Port Said on Egypt's Mediterranean coast.
The park, to be known as 'KEZAD East Port Said,' will be developed in phases by AD Ports Group, with an estimated initial investment of $120 million allocated for Phase 1 works, including marketing, technical studies, and infrastructure.
Construction on the first 2.8 sq km phase is scheduled to begin by the end of 2025.
AD Ports Group will be responsible for financing, constructing, operating, and managing KEZAD East Port Said.
Phase 1 will also feature a 1.5-kilometre quay wall to support future cargo terminal operations.
Emirates Global Aluminium (EGA) and Egypt's Hassan Allam Holding have signed memoranda of understanding as potential anchor tenants.
Hassan Allam will also explore further cooperation with AD Ports Group across additional industrial and logistics developments, including port-related projects in East Port Said and elsewhere in Egypt.
AD Ports Group has been active in Egypt since 2022, acquiring regional logistics and maritime firms such as Transmar, TCI, and Safina B.V. It has also secured long-term agreements to operate cruise terminals at Red Sea ports, and is building a $200 million multipurpose cargo terminal in Safaga under a concession from the Red Sea Ports Authority.
In December 2024, AD Ports Group appointed Hassan Allam Construction, the construction arm of Hassan Allam Holding, to build the Safaga multipurpose cargo terminal.
SCZONE manages four industrial zones and six seaports across a total area of 455 sq km. Since mid-2021, it has signed 274 investment projects valued at $8.3 billion.
(Reporting by Eman Hamed & Marwa Abo Almajd; Editing by Anoop Menon)
(anoop.menon@lseg.com)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Harpers Bazaar Arabia
2 hours ago
- Harpers Bazaar Arabia
The Summer Watch That's Setting the Tone
A sun-drenched statement in orange and blue, Hublot's latest timepiece brings summer — and 20 years of the Big Bang — to your wrist There are certain moments that signal the start of summer. The first golden light through your sunglasses; the gentle rhythm of waves against the shore. And now, the arrival of Hublot 's Big Bang Unico Summer 2025 – a watch created to reflect the season in full colour. Unveiled on the sun-soaked shores of Mykonos, the timepiece debuted against a backdrop of sea, celebration and style. Olympic legend Usain Bolt and DJ Mattia Vitale of Meduza were among those in attendance, but all eyes were on the watch. Cloaked in radiant orange and Mediterranean blue, it channels the spirit of the season – vivid, elegant and made for a life lived in the sun. Hublot has long embraced the beauty of contrast. The Big Bang Unico Summer 2025 is crafted from high-tech ceramic, known for its lightness and durability, yet shaped with a sense of softness and finesse. The orange case recalls the warmth of golden hour, while the sky-blue bezel reflects the calm of a coastal afternoon. With Hublot's One-Click strap system, three interchangeable rubber straps in coordinating tones allow for effortless transitions – whether you're by the pool or on the move. Beneath the surface, the watch is powered by the in-house Unico movement, visible through an openworked dial. The flyback chronograph features a 72-hour power reserve and a refined structure that balances engineering with elegance. This year marks two decades since the launch of the Big Bang collection. From its original debut in 2005 to this latest summer edition, the design has evolved while remaining true to its bold, expressive identity. And with the Big Bang Unico Summer 2025, Hublot continues to define time through colour, craft and clarity of vision, resulting in a seasonal statement that shines bright precisely when it should.
Zawya
a day ago
- Zawya
AD Ports to jointly explore e-methanol bunkering, export facility in UAE
AD Ports Group has signed a collaboration agreement to undertake a feasibility study for the development of an e-methanol bunkering and export facility at Khalifa Port and Khalifa Economic Zones Abu Dhabi (KEZAD Group). The agreement was signed with the UAE's Masdar, the Netherlands' Advario and France's CMA CGM Group. The project will provide critical infrastructure to complete the supply value chain and bridge commercial e-methanol production with key off-takers, such as CMA CGM, the Abu Dhabi-listed AD Ports said in a statement. Saif Al Mazrouei, Chief Executive Officer- Ports Cluster, AD Ports Group, said the development of an e-methanol bunkering and export facility in Khalifa Port will support the growth of the shipping industry and contribute to the reduction of carbon emissions by promoting clean energy sources. Green hydrogen and its derivatives, such as e-methanol, are pivotal in decarbonising hard-to-abate sectors like shipping, said Dr Faye Al Hersh, Head of Green Hydrogen Business Development (UAE), Masdar. 'With over 80 percent of global trade transported by sea, fostering strategic partnerships is essential to establishing robust green hydrogen value chains and ensuring a more sustainable maritime industry,' Al Hersh said. Christine Cabau Woehrel, Executive Vice President for Assets and Operations, CMA CGM Group, said the company is accelerating the decarbonation of shipping by investing in low-carbon solutions, with a fleet of more than 153 vessels capable of using low-carbon energies and synthetic fuels such as e-methanol operational by 2029. The collaboration agreement follows a memorandum of understanding signed in 2023 between AD Ports Group and Masdar to explore the development of a green hydrogen hub within KEZAD. The new agreement aligns with the Abu Dhabi Low Carbon Hydrogen Policy and the UAE's National Hydrogen Strategy, which targets the scaling up of local hydrogen production to 1.4 million tonnes per annum by 2031 and 15 million tons per annum by 2050. (Writing by P Deol; Editing by Anoop Menon)
ME Construction
a day ago
- ME Construction
MAG Group Holding launches Riviera Heights in Marsa Zayed
Property MAG Group Holding launches Riviera Heights in Marsa Zayed By The development will serve as a southern gateway to Jordan's most renowned attractions, including the UNESCO World Heritage Site Petra and the Wadi Rum Protected Area MAG Group Holding has unveiled Riviera Heights, its first luxury residential development in Marsa Zayed, Jordan's largest mixed-use beachfront community. The project marks the beginning of a larger plan to transform a 320ha section of Jordan's Red Sea coast into an international tourism and residential destination. In February, the landowner AD Ports Group appointed Dubai-based MAG Group Holding to develop Marsa Zayed. The development will serve as a southern gateway to Jordan's most renowned attractions, including the UNESCO World Heritage Site Petra and the Wadi Rum Protected Area. Riviera Heights, a vibrant and contemporary waterfront community, serves as the foundation for Marsa Zayed's vision. It blends homes, cultural offerings, and a lively social scene, making it a significant milestone for Aqaba. Riviera Heights will be built on the southern edge of the Marsa Zayed development area. It will comprise four 35-storey buildings with over 1,250 seafront apartments. Site work is currently underway and the construction of Riviera Heights is expected to be completed by Q1 2028. MAG Group Holding is committed to delivering quality, design, and lifestyle focused experiences to its investors, the statement noted. Moafaq A. Al Gaddah, Founder and Chairman of MAG Group Holding said, 'Riviera Heights captures the true essence of Jordan its warmth, heritage, and culture. We are breathing new life and economic vitality into Aqaba by creating vibrant spaces that foster genuine connection to its extraordinary Red Sea coastline. Together with AD Ports Group, our vision is to cultivate a destination with wide appeal to a wide range of discriminating travellers, where everyone feels a true sense of belonging.' Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group added, 'We welcome the launch of Riviera Heights, which marks the official beginning of construction in Marsa Zayed, the Red Sea's newest and most exciting tourism and residential development. Under the wise guidance of our leadership in the UAE, AD Ports Group and MAG Group Holding are making a strategic investment in Jordan's economy that will bring long-term jobs and economic growth to a region defined by its unique natural coastal beauty.' Marsa Zayed, Jordan's flagship tourism venture stands as one of the Middle East's most ambitious real estate development projects. Located next to the Phase 1 development of Marsa Zayed, Riviera Heights will extend 1.2km along the Red Sea beachfront. This development will feature a marina, a hotel, hotel apartments with a beach club, an Old Souq marketplace with 50 retail shops, a yacht club, and a visitor's centre. Marsa Zayed will also showcase the restored minaret of the Al-Sharif Al-Hussein Bin Ali Mosque, an architectural feature in Aqaba, aims to attract regional and international homeowners and investors.
