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Chinese New YearLogistics giant AD Ports Group has signed an agreement with real estate developer Danube Properties to sell a plot of land covering one million square meters. The value of the deal is approximately AED 840 million. A modern residential and commercial district will be developed on the site in the KEZAD area.
This transaction marks the second major land sale within the KEZAD Town Centre project. The proceeds from the sale will be received by the company in stages over a four-year period. This will allow AD Ports Group to reduce its debt burden and allocate capital toward further infrastructure development in Abu Dhabi.
The buyer of the land, Danube Properties, is one of the leading private real estate developers in the UAE. Known for its quality developments, the company will create a comfortable environment for living and business activities. The project will include residential buildings and retail zones located close to the city’s major industrial hubs.
The development of KEZAD Town Centre directly supports the economic growth of the UAE capital. The project will transform vacant land into a vibrant urban center, providing thousands of people with modern housing and convenient access to workplaces.
ORIENT
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