Abu Dhabi Airports Company in Joint Venture with Helios SinoGulf

Abu Dhabi Airports Company announced that it has signed a joint venture agreement with Helios SinoGulf Property Development LLC to develop a logistics and business park under free zone regulation adjacent to Al Ain International Airport. The development will cover 650,000 square metres and will include office space, distribution centres, light industrial units, freight forwarding stations and supporting facilities in a business park, that will cater to the needs of air cargo, aerospace, and related industries. The first phase of development represents an investment of more than AED 900 million ($250 million). The development will start immediately and the first phase is scheduled for completion towards the end of 2010.