KEZAD Group, Al Ghurair Foods sign lease agreements for over AED 1bln mega projects across 1mln sqm

KEZAD Group, Al Ghurair Foods sign lease agreements for over AED 1bln mega projects across 1mln sqm

- Al Ghurair Foods to invest over AED1 billion in KEZAD through three clusters

- Al Ghurair Foods to establish region’s first Starch Processing Plant and one of the region’s largest Broiler projects in capacity

Abu Dhabi: Khalifa Economic Zones Abu Dhabi - KEZAD Group, a wholly-owned subsidiary of AD Ports Group (ADX: ADPORTS) and Al Ghurair Foods, a world-leading manufacturer and supplier of high-quality food and part of Al Ghurair Investment, one of the largest diversified family business groups in the UAE, today announced the signing of 50-year land lease agreements for three mega food processing projects involving investments of over AED 1 billion.

The signing ceremony was held at KEZAD’s headquarters in Abu Dhabi in the presence of Abdullah Al Hameli, CEO Economic Cities & Free Zones, AD Ports Group, Mohamed Al Khadar Al Ahmed, CEO, Khalifa Economic Zones Abu Dhabi – KEZAD Group, and a delegation from Al Ghurair Investment comprising Ibrahim Al Ghurair, Non-Executive Board Director, John Iossifidis, Group Chief Executive Officer, and Djamal Djhouri, Chief Executive Officer, Al Ghurair Foods.

The agreement will mark the first phase of Al Ghurair Foods division’s investments in KEZAD. The first two projects are set to establish the region’s first of its kind