Sohar Port and Freezone together with RFX Industrial Parks LLC are pleased to announce the recent signing of a Development Agreement encompassing 58 hectares within the Sohar Freezone. This collaboration will see the development of turnkey, bespoke new built-to-lease logistics and light industrial units for tenants requiring modern accommodation within Sohar Freezone.
Highlighting the importance of the collaboration, Mark Geilenkirchen CEO of Sohar Port and Freezone noted, “With several potential investments in the pipeline, Sohar is committed towards providing tenants with the best high quality services to ensure an unmatched business experience. Our partnership with RFX will see the creation of new and innovative methods to further support existing tenants, as well as encourage newer ones to set up at the Port and Freezone.”
The entire development will comprise up to 290,000m2 of leasable space, which will offer various logistics size formats, including box and flex-log while also providing an easy solution of moving to larger units as tenant businesses expand. Phase one, which is due to commence construction in July 2019, will cover 10,000m2 of leasable area and be available for occupancy by the end of the year.
Mark Wrong, CEO RFX commented, “We are delighted to be selected by Sohar as their development partner to deliver brand new bespoke logistics and light industrial facilities for businesses looking for modern rental accommodation in Sohar Freezone.
With our flexible leasehold solutions, tenants at Sohar Freezone will be able to reduce their capital expenditure and benefit from high quality facilities and competitive market rents.”
RFX Industrial Parks is a specialist real estate developer and manager of logistics and light industrial parks across the Middle East and Africa. A joint venture between Australian firm RF Capital, a privately owned real estate group with operations across Australasia, Europe, the GCC and Africa and PBP Holdings, a Dubai based commercial real estate developer with a 15-year track record in Russia, Europe and CIS.