Abu Dhabi, UAETuesday 15 October 2019

Centre Point Logistics predicts more expansion

Centre Point Logistics this month struck a deal to manage a 50,000-square-metre plot at Sohar Port and Freezone, with the option to expand if required.

Centre Point Logistics (CPL) is eyeing expansion in Saudi Arabia after establishing operations in Oman.

The Dubai-based company predicts rising demand for flexible warehouse space from third-party logistics companies amid a more challenging global business environment, said the chairman, Saleh Saeed Lootah.

CPL this month struck a deal to manage a 50,000-square-metre plot at Sohar Port and Freezone, with the option to expand if required.

The regional logistics sector has ballooned as investment pours into port free zones such as Jebel Ali, Kizad and Sohar, while land, sea and air-based cargo volumes rise.

Free-zone trade in the UAE rose 7 per cent to Dh269.6 billion in the first half of last year compared to the same period a year earlier, according to data from the Federal Customs Authority.

CPL, which was established in 2005, has an existing 2 million-square-foot hub in Jebel Ali and is now targeting regional growth.

Sohar is attracting increased interest from UAE groups seeking to expand their footprint.

Essa Al Ghurair Investment also struck a long-term deal last week with Sohar to lease a major plot targeted at the food processing sector.

business@thenational.ae

Follow The National’s Business section on Twitter

Updated: February 14, 2015 04:00 AM

SHARE

SHARE