Gargash Prime, JD Property ink deal to develop logistics facility in Dubai

A signing ceremony for the agreement

Gargash Prime and JINGDONG Property (JD Property), part of China’s JD.com, announced the signing of a partnership agreement to invest in a joint venture to develop a logistics facility in Dubai, on a site spanning 2.5 million square feet.
 
In a joint statement, the companies said the facility will serve as a regional center for distribution and order fulfillment, aimed at supporting local and regional supply chains in the Middle East.
 
The agreement was signed on the sidelines of the Dubai Business Forum – China, organized by Dubai Chambers in China’s Shenzhen City, attended by Mohammed Lootah, President and CEO of Dubai Chambers.
 
Gargash Prime said the project aligns with its strategy to develop large-scale real estate and logistics infrastructure projects in the UAE, in collaboration with global partners, in line with the goals of Dubai Economic Agenda D33.
 
JD Property stated that the project will help strengthen its regional capabilities and provide logistics infrastructure for both local and international customers.
 
JD Property manages over 300 infrastructure assets globally with a combined area exceeding 28 million square meters. The company’s managed assets are valued at more than $16 billion. Its activities include logistics parks, business parks, and data centers.