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Autumn 2015

GRDI is set to deliver Santander’s new contact centre and operations hub in Bootle after being chosen as the bank’s development partner for the £75m project.

Gulf Resources Development and Investment (GRDI) has secured AED 208 million ($57 million) in finance from the National Bank of Fujairah (NBF) for the construction of IKEA’s biggest distribution centre in Dubai, UAE, said a report.

The distribution centre is the Swedish furniture group’s first direct investment in the Middle East, reported the Emirates news agency Wam.

It is being developed through a joint venture between GRDI, a real estate development and investment company, and Dubai South, the 145 sq km master-planned city previously known as Dubai World Central (DWC).

The giant facility will come up on a built-up area of one million sq ft (roughly the size of 16 football fields) in the Logistics District at Dubai South, home to the Al Maktoum International Airport and the World Expo 2020, it stated.

On completion, it will be able to handle 50,000 twenty-foot equivalent containers (TEUs) per year, said the report.

And within the next three years of its operation, the company aims to boost its capacity to 70,000 TEUs.

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