GKE Arm Signs Deal for 20-Year Lease of Dubai Premises to Support Logistics Ops

MT Newswires

01/06

GKE's (SGX:595) subsidiary, GKE Logistics Services, signed an agreement with JAFZ Enterprises FZE for a proposed 20 year lease of premises at the Jebel Ali Free Zone South in Dubai, according to a Tuesday filing with the Singapore Exchange.

The leased premises will be modified and built to offer the company long-term operational stability for its warehousing and logistics activities in Dubai.

The lease rent cost will be around SG$120 million, which will be financed through internal resources and external funding sources.

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