{"id":69965,"date":"2023-04-04T00:00:00","date_gmt":"2023-04-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/04\/04\/ad-ports-completes-merger-of-kezad-communities-eaj\/"},"modified":"2023-04-04T00:00:00","modified_gmt":"2023-04-04T00:00:00","slug":"ad-ports-completes-merger-of-kezad-communities-eaj","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/04\/04\/ad-ports-completes-merger-of-kezad-communities-eaj\/","title":{"rendered":"AD Ports completes merger of Kezad Communities + EAJ"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">AD Ports\u2019<\/span><span style=\"font-weight:700\">Kezad Communities<\/span><span style=\"font-weight:700\"> + EAJ are now a single entity:<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adports.ae\/\" style=\"\">AD Ports<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adports.ae\/\" style=\"\">Group<\/a><\/span><span> has completed <\/span><span>its merger of staff accommodation providers <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.kezadcommunities.com\/\" style=\"\">Kezad Communities<\/a><\/span><span> with <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/eskanuae.com\/\" style=\"\">Al Eskan Al Jamae<\/a><\/span><span> (EAJ), creating an entity with equity value of USD 1.9 bn (AED 7 bn), according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/4\/2817947_KC-EAJ-Merger-Complete-Final_104.pdf\" style=\"\">filing (pdf)<\/a><\/span><span style=\"font-weight:400;\"> to the ADX on Sunday. The all-shares transaction leaves AD Ports with a 52% controlling majority stake. The merger will be reflected in AD Ports\u2019 financials for the full quarter in 1Q 2023. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The merged entity is the largest staff accommodation firm in Mussafah, Abu Dhabi<\/span><span style=\"\">, and<\/span><span> \u201cone of the largest businesses in the UAE,\u201d the filing says. The merger expanded Kezad Communities\u2019 capacity to 135k beds for staff by adding 58k beds from EAJ. Amenities and facilities that will be on offer through the incorporated firm include medical centers, sports areas, dining halls, mosques, catering, supermarkets, and laundry services, with EAJ providing several of these amenities. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">About the companies:<\/span><span style=\"\"> Kezad <\/span><span style=\"\">Communities is part of the Khalifa Economic Zones Abu Dhabi<\/span><span> (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adportsgroup.com\/en\/integrated-clusters\/economic-cities-and-free-zones\" style=\"\">Kezad Group<\/a><\/span><span>), under AD Ports\u2019 <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adportsgroup.com\/en\/integrated-clusters\/economic-cities-and-free-zones\" style=\"\">Economic Cities and Freezones<\/a><\/span><span>. The company helps provide staff accommodation to companies from different sectors in the UAE and GCC. EAJ is a real estate development and management company that owns and operates <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/icadresidentialcity.com\/\" style=\"\">ICAD Residential City<\/a><\/span><span style=\"font-weight:400;\"> in Mussafah, Abu Dhabi. EAJ also operates several fully owned subsidiaries offering support services.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The merger creates the largest staff accommodation provider in Abu Dhabi<\/p>\n","protected":false},"author":1,"featured_media":69966,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[941],"tags":[809,815,17,814,137,21],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-69965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-abu-dhabi-ports","tag-al-eskan-al-jamae","tag-enterprise-logistics","tag-kezad-communities","tag-ma-watch","tag-zones","wpautop","entry"],"acf":{"mongo_id":"2b7dc3d8-2335-4ccf-8f53-7da96131cbb9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/147.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[69956],"teaser":"The merger creates the largest staff accommodation provider in Abu Dhabi","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.809d2a29-bd65-4438-a3fc-903a8d19d862.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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