KEZAD Group, Al Ghurair Foods sign lease agreements for over AED1 billion mega projects

KEZAD Group, Al Ghurair Foods sign lease agreements for over AED1 billion mega projects

ABU DHABI, 28th April, 2023 (WAM) -- Khalifa Economic Zones Abu Dhabi (KEZAD Group), a wholly-owned subsidiary of AD Ports Group, 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 and Free Zones, AD Ports Group; Mohamed Al Khadar Al Ahmed, CEO, 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 Starch Processing Plant, in addition to one of the top Broiler producers in the UAE, in terms of capacity, implementing the highest standards of food safety in line with International Biosecurity standards, in a boost for local