Knight Frank – Dubai and Abu Dhabi Industrial Markets Review

KEZAD Group, representing 55% of the UAE's industrial area, oversees 12 economic zones with varying warehouse and cold store rents. The land bank totals 550 km2, with a current occupancy rate of 70%. Serving 2,100 customers, with 70% in the industrial sector, KEZAD saw a high demand from automotive, metal, and AgTech & Food sectors in Q1 2024. 40 new occupiers were gained, with AED 8.82bn in investments attracted from local and foreign sources. KEZAD is adding 250,000 sqm of new stock to meet the demand for industrial and logistics facilities. In Abu Dhabi, the KEZAD ecosystem is evolving rapidly with high demand for warehousing products, leading to 88% occupancy in Q1. Customers are pre-leasing larger spaces and committing to longer lease terms of almost 6 years.