2.5 million square meters of land reserved in DLC
According to industry observers, more than 2.5 million square meters of land have been reserved in the planned Dubai Logistics City (DLC) in Jebel Ali, by some 85 companies, while an estimated six million square meters of land are expected to be leased out in the zone by 2008.
Chief Executive Officer of DLC, Michael Proffitt, stated that under a new contract signed earlier this week, construction of warehouses in the first-quarter of 2007 and work will be finished by year-end in the city by Aramex, Danzas AEI Emirates LLC, Kuehne+Nagel and Panalpina, ,according to Gulf News.
Aramex signed for 140,000 square meters in DLC's contract logistics area with an option for an additional 100,000 square meters. Danzas AEI Emirates LLC signed two agreements, one for 30,000 square meters in DLC's forwarding area with an option for a further 15,000 square meters, and another for 155,000 square meters in the DLC's specialised contract logistics area. Kuehne+Nagel signed for 52,000 square meters in DLC's contract logistics area.
Meanwhile, Panalpina has taken 30,000 square meters in the forwarding area and has an option of another 15,000 square meters, as it plans to build a 10,000 square meter warehouse and a 2,600 square meter office building.