Prime Highlights-
- Gargash Prime and JINGDONG Property form a joint venture to develop a 2.5 million square foot Dubai logistics hub.
- The hub will serve as a regional distribution and fulfillment center for supply chains across the Middle East and UAE.
Key Facts-
- JINGDONG Property manages over 300 infrastructure assets worldwide with $16 billion in assets under management.
- The partners signed the agreement at the Dubai Business Forum China in Shenzhen, organized by Dubai Chambers.
Background-
Gargash Prime and JINGDONG Property, the infrastructure investment and asset management arm of JD.com, have signed an MoU to form a joint venture for a logistics facility in Dubai. The partners will develop a 2.5 million square foot plot into a regional distribution and fulfillment hub for the Middle East.
The two companies signed the agreement at the Dubai Business Forum China in Shenzhen, organized by Dubai Chambers. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, attended the signing. The deal highlights growing ties between the UAE and China.
The project fits Gargash Prime’s plan to build large-scale real estate and logistics infrastructure through partnerships with global leaders. It also supports the UAE’s goal of strengthening its role as a global trade and logistics hub and backs the Dubai Economic Agenda D33.
Shehab Gargash, Founder of Gargash Prime, said the venture combines complementary strengths to deliver infrastructure at scale for the next phase of UAE growth. Chief Strategy Officer Walid Hizaoui said the facility gives the company scale and the right partner for a major logistics footprint.
JINGDONG Property CEO Carl Chen called the deal an important step in its long-term UAE plans. JD.com Middle East CEO Feng Guo said the partners will pair JINGDONG’s technology and logistics skills with local expertise to build more efficient supply chains.
JINGDONG Property manages more than 300 infrastructure assets worldwide, covering over 28 million square meters with $16 billion in assets.
