Euro Auctions ME To establish region’s largest Auction House at KEZAD
Khalifa Economic Zones Abu Dhabi–KEZAD Group, recently signed a lease agreement with Euro Auctions Middle East, a subsidiary of the Euro Auctions Group, to establish its largest auction house in the region for industrial plant, construction equipment and agricultural machinery.
Under the agreement, they will expand its current UAE operations in KEZAD across a facility of more than 43,000sqm, with site operations scheduled to commence in Q1-2023.
By collaborating with Abu Dhabi Customs and KEZAD Group, they will also have a proportion of the yard categorised as a bonded warehouse, offering import and export customers the same advantages as a freezone operation.
“At KEZAD Group, we are proud to continually enable leading companies to meet growing demand across the region and beyond from Abu Dhabi,” remarked Mohamed Al Khadar Al Ahmed, CEO, Khalifa Economic Zones Abu Dhabi- KEZAD Group.
“The initiatives that KEZAD has put in place for them,it provides our operation with massive strategic advantages in the region.
The site will be outside of the freezone, but will still have 100 percent foreign ownership through the initiative launched by the UAE in 2020,” commented Richard Sweatt, General Manager.