Helios, Abu Dhabi group ink logistics JV
Abu Dhabi, January 3, 2009
Helios Properties, the logistics development company run by Trevor Cartner and Mike Hughes, has signed an agreement with SinoGulf, the Abu Dhabi-based real estate investment company, to develop a network of distribution parks across GCC.
The two companies have formed a 50/50 joint venture named Helios-SinoGulf Property Development to take advantage of the growth in demand for warehousing and logistics services in the region by building a series of logistics parks throughout the United Arab Emirates and the GCC.
Helios - SinoGulf hopes to have an initial development programme of more than 300,000 sqm within its first 12 months, said a company official.
The companies are currently in negotiations on several projects in the UAE, said Trevor Cartner, executive director of Helios.
'There is huge potential for logistics in the Gulf States, which is a market we have tracked for a number of years. The UAE has emerged as the region’s trading and transhipment hub which is generating strong demand for warehousing,' he noted.
'Helios’ proven ability to deliver large scale development projects together with SinoGulf’s track record in the UAE will be a winning combination,' Cartner opined.
Andrew Clout, SinoGulf ‘s managing director said, 'With the new Helios-SinoGulf team, we are looking forward to developing many world class logistics and warehousing projects throughout the region.'
'Both Helios and SinoGulf have a proven track-record and a thorough knowledge of logistics developments and we are excited by the opportunities this will create,' he added.-TradeArabia News Service