AD Ports sells off more Kezad land

AD Ports Group sold Kezad Logistics Park Freezone 3 to Mair Group for AED 295 mn, extending a run of capital recycling transactions, according to a press release (pdf). The sale will see the Abu Dhabi investment firm snap up four warehouse blocks, while AD Ports retains long-term control of the land under a 50-year Musataha agreement.

The move is an asset reset rather than an exit, continuing the state player’s plan to optimize land assets and liberate liquidity for expansion plans. Since last October, the group has recycled more than AED 4.2 bn through similar plays, including transactions with Mira Developments (AED 2.5 bn), Danube (AED 840 mn), and Aldar (AED 570 mn). Management has consistently framed these sales as a way to monetize non-core assets, strengthen its balance sheet, and redeploy capital.

Alsulaiman Group to operate dry port in Saudi’s Qassim

Saudi Arabia’s Alsulaiman Group has inked a 50-year contract to operate and manage Qassim Dry Port. The contract was signed through the firm’s subsidiaries, with Flow Progressive Logistics responsible for day-to-day operations and Sarh Real Estate Development responsible for infrastructure development. The facility will also feature an Agri-Logistics Center.

About Qassim: Saudi Arabia’s Qassim Municipality announced a tender last year to establish, operate, and maintain a dry port — covering 1 mn sqm — east of Buraydah over a 50-year period. The Qassim area is known for its agricultural ecosystem, which produces dates as well as grapes, yielding 30k tons of the fruit each season.

Adex backs bigger wagers in transition trade

The Abu Dhabi Exports Office (Adex) expanded a revolving credit facility for Swiss-based energy and commodities trader BGN to USD 400 mn, up from USD 282.5 mn, according to a press release. The added headroom comes as BGN eyes growth across LNG, critical minerals, metals, and transition fuels.

The setup: The facility was oversubscribed and syndicated across 15 lenders spanning the Middle East, Africa, and Asia, with First Abu Dhabi Bank acting as sole coordinator and bookrunner.

Medlog gets a golden license for its Egypt dry port project

Swiss logistics giant Medlog secured the golden license to build and operate the Tenth of Ramadan dry port. The company broke ground on the USD 130 mn, 250-feddan project last year, after inking the contract for the public-private partnership in 2023. It is designed to handle up to 500k TEUs annually once operations begin in 2027.

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