MSM Logistic to build AED 85 mn building complex in the Abu Dhabi Airports Freezone: Construction firmMSM Logistic will build an AED 85 mn building complex in the Abu Dhabi Airports Freezone (ADAFZ), a subsidiary of Abu Dhabi Airports, has inked an agreement with construction firm under a new agreement, according to a press release. The project will be the first in the Al Falah district, a master development near Abu Dhabi International Airport.

Details: MSM Logistic will build a 16.5k square meter warehouse that can be split into three areas to cater to different storage needs, according to the statement.

Timeline: The freezone will lease the land for the warehouse through a Musataha agreement in 4Q 2023, according to the statement.

Mushtaha agreement? A musataha agreement gives investors the right to construct a building or to invest in, mortgage, lease, sell or purchase a plot of land belonging to a third party for a specific period of time, according to the Abu Dhabi Investment Office.

IN OTHER NEWS FROM ADAFZ- ADAFZ and Masdar City Freezone ink MoU coordinating their activities: The Abu Dhabi Airports Freezone (ADAFZ) has signed an agreement with Masdar City Free Zone where the latter’s companies will be able to lease warehouses and manufacturing space in ADAFZ, Wam reported. ADAFZ will also provide streamlined licensing and registration along with other services and incentives to Masdar under the agreement. The agreement will allow companies in each zone to hold licenses and benefit from services in both zones, promoting synergies among Abu Dhabi’s free zone ecosystem, Wam explained.

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