DP World has signed a deal with UK supermarket Lidl for a distribution facility at its vast London Gateway development.
Lidl UK said it would begin operating out of the 187,000-square-foot distribution facility next to the deepwater port on the banks of the Thames in Thurrock, Essex, from February next year.
In a statement on Monday, DP World said that Lidl would occupy the warehouse areas of its Logistics Centre.
DP World officially opened the first phase of distribution and logistics space in July last year in conjunction with UK-based logistics service provider Import Services Limited.
The port operator is planning to increase the size of the centre to 380,000 square feet based on market demand.
As well as being one of the UK’s largest ports, DP World London Gateway will also include one of the country’s largest logistics parks, which is expected to one day extend over 9.5 million sq ft. In total, the distribution park at London Gateway will cover 300 Hectares.
“As we push forward with our UK expansion plans we continue to strengthen our core infrastructure in order to support our new and existing stores up and down the country,” said Adrienne Howells, Lidl’s head of warehouse expansion.
“We are, therefore, pleased to have found a viable facility at DP London Gateway Logistics Park that meets our current distribution requirements.”
Tenants that plan to set up in the park include the logistics company UPS and truck company Eddie Stobart.
In 2014, the British retailer Marks & Spencer backed out of plans to build a 900,000 sq ft warehouse in the London Gateway citing wishes to use its “capital investment more efficiently”.
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
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