Jebel Ali Free Zone (Jafza) in Dubai, UAE, represents the largest valuation ever undertaken by Knight Frank globally of a single asset having a value of over $4.5 billion, the real estate consultancy said.

The valuation of the flagship instruction, which encompasses 57 million sq m of land, was undertaken as part of the planned acquisition of Economic Zones World by DP World.

Jafza is set around Jebel Ali Port, extending to 57 sq km in area. The property comprises a total of 14,000 tenancies, 32 million sq m of land, over 1,000 warehouses, more than 2 million sq ft of office space, 9,000 rooms of worker accommodation, a hotel and convention centre, showrooms and retail assets.

Stephen Flanagan, partner, commercial valuations team, Knight Frank, said: “Knight Frank Dubai has a very strong industrial and commercial valuation track record. This along with a team approach and combined with support from the head office in London enabled Knight Frank to carry out the instruction.” – TradeArabia News Service