Gargash Prime and JINGDONG Partner on 2.5 Million Sq Ft Dubai Logistics Hub

UAE-based Gargash Prime and JINGDONG Property, the infrastructure investment and asset management arm of China's JD.com, Inc., have entered into a memorandum of understanding (MoU) to establish a joint venture for developing a major logistics facility in Dubai, according to an announcement made at the Dubai Business Forum – China in Shenzhen.

Under the terms of the MoU, signed on 13 October, the two entities will collaborate on the development of 2.5 million square feet (approximately 250,000 square metres) of land. The planned project is envisioned as a regional distribution and fulfilment hub aimed at serving supply chain requirements across the UAE and the wider Middle East.

The signing ceremony was witnessed by Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, which organised the forum in Shenzhen. Officials highlighted that the project supports the objectives of the Dubai Economic Agenda D33 and the UAE's strategy to strengthen its role as an international trade and logistics gateway.

Shehab Gargash, Founder of Gargash Prime, stated that the joint venture aims to build large-scale infrastructure to cement the UAE's position in global logistics and trade by combining the capabilities and resources of both partners.