Dubai Investments announces 1st flagship development in Africa
- 10 Jan 2024
Dubai Investments has marked a significant entry into the African markets with the announcement of its first flagship mixed-use development in Africa - the Dubai Investments Park (DIP) Angola.
DIP Angola, the innovative 2,000-hectare unique integrated mixed-use residential, commercial and industrial hub in Angola, Africa, is planned and designed in line with highlighting Dubai Investment’s expertise in crafting immensely successful mixed-use developments.
The project site comprises 3 kilometres of breathtaking coastline and a 2-kilometre stretch of sandy beach, presenting a canvas for versatile master planning. The area’s topography allows for seamless integration of industrial, commercial, and residential zones, while preserving the natural beauty. The development aims to become a tourism and industrial hub, with sustainable development aligned with the Angola Ministry of Environment (MINAMB).
Dubai Investments will develop the infrastructure and lease land to developers and investors to create a cohesive mixed-use development as the Group progresses with the establishment of DIP Angola.
The project is strategically located in Dande Municipality, Bengo Province, just 50 kilometres from the national capital Luanda and 33 kilometres west of the provincial capital, Caxito. A robust regional transportation network ensures excellent connectivity for both local and international visitors.
Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, said, “Dubai Investments Park Angola stands as a momentous milestone, representing the Group’s premier endeavour at such a grand scale, signifying the beginning of a journey towards global expansion. This strategic step reaffirms the Group’s unwavering belief in Africa’s promising economic terrain, aiming to catalyse sustainable growth and progress across the continent.”
The project is in alignment with the Ministry of Environment’s regulations for environmental protection and conservation and adheres to the UN’s Sustainability Goals (SDGs). It achieves this through integrated renewable energy, smart water management, innovative landscaping, and other future-proofed sustainable initiatives.
Meanwhile Aldar Properties has announced that it is investing a further Dhs1 billion to expand its logistics real estate business in Dubai and Abu Dhabi.
Having first entered the logistics sector with the majority acquisition of Abu Dhabi Business Hub (ADBH) in 2022, this new investment includes acquiring operational assets and developing ready-to-lease and build-to-suit options in response to strong demand for Grade A logistics facilities.
Marking its first logistics acquisition in Dubai, Aldar has bought 7 Central logistics hubs and an adjacent plot, which, once developed, will almost double the current gross leasable area (GLA) of 19,000 sqm.
The facility, which was sold by Seven Seas Steel Industries, is strategically positioned in one of Dubai’s most established industrial areas, Dubai Investments Park (DIP).
The company has also created a healthy development pipeline and will build 233,000 sqm of new Grade A logistics facilities across the UAE. This includes single-tenanted facilities and logistics parks in Dubai, totalling 200,000 sqm of GLA that will be developed in partnership with established logistics real estate players, and a 33,000 sqm GLA expansion of the company’s premium logistics facility, ADBH, in Abu Dhabi.
The ADBH warehouse portfolio is fully leased at its current capacity of 132,000 sqm to diverse institutional tenants, including Etihad, Mubadala and Twofour54.
Talal Al Dhiyebi, Group Chief Executive Officer of Aldar Properties, said, “Asset and geographic diversification are core tenets of our growth strategy, and logistics is becoming an important asset class for Aldar. We are experiencing particularly strong demand for high-grade facilities in the UAE, driven by robust intra-regional trade, high-quality infrastructure, and an expanding digital economy.”
The growth of the UAE’s logistics sector is supported by substantial investment into transportation and infrastructure to support the diversification of the economy.
Aldar is experiencing strong demand to develop a range of logistics facilities, including supply chain and fulfilment warehouses to last-mile centres, in the form of single tenanted facilities and larger scale logistics parks. Tenants are in various sectors, primarily focusing on third-party logistics (3PL), e-Commerce and retail.
Meanwhile Abu Dhabi Islamic Bank (ADIB) has arranged an Dhs1 billion sustainable bilateral facility for Aldar Properties (Aldar).
The financing takes Aldar’s total ESG financing facilities to Dhs4.8 billion as the company transitions towards sustainable financing for its projects and investments. The transaction underscores both entities’ commitment to supporting environmentally beneficial projects aligned with the UAE Net Zero by 2050 strategic initiative.
