Abu Dhabi Airports Company (ADAC) has announced 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 represents an investment of more than AED 900 million (US$250 million) and will start immediately with completion towards the end of 2010.

“ADAC is firmly committed to the development of Al Ain International Airport as a hub for low cost carriers and dedicated air cargo freighters,” said ADAC chairman, Khalifa Mohamed Al Mazrouei.

“The park will also cater to the demand of the upcoming high tech industry and aircraft Maintenance and Repair Operations activities poised to take place in Al Ain airport.”