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Dubai, UAE – 17 October 2024
Aramex, a leading global provider of comprehensive logistics and transportation solutions, today announced a new joint venture with ZK Holding, a leading investment company operating in Abu Dhabi. The partnership will provide fully integrated services, including domestic and international courier, freight forwarding, and contract logistics, aimed at supporting both local and international businesses in Iraq.
Through this joint venture, Aramex will significantly expand its existing footprint in the country by tapping into ZK Holding’s extensive reach, including access to over 7,000 points of sales across Iraq, enabling widespread pick-up and drop-off services. This network will help facilitate smoother logistics operations in more than 15 cities across the country.
Operations are expected to commence in the first quarter of 2025, with the partnership aiming to serve corporate and retail customers in Iraq. The joint venture will play a key role in unlocking new trade lanes, facilitating trade and enabling businesses to access new markets.
Othman Aljeda, CEO of Aramex said, “We are excited to join forces with ZK Holding to further grow our presence in Iraq, a market with significant potential. This partnership will allow us to enhance our offerings, helping to drive trade and economic growth in Iraq and beyond. We look forward to working together with ZK to provide seamless trading solutions that benefit businesses and consumers alike in the region and beyond.”
Dr. Zead Khalaf, Chairman of the Board Directors of the ‘International Development Bank’, Chairman of the ‘ZK Holding Group’ in Abu Dhabi: “We are proud of this strategic collaboration and joint venture with Aramex, which reflects the ambition of ZK Holding Group for regional expansion and its pivotal role in promoting growth by entering new markets. Through the sister companies of ZK Holding, we will provide integrated logistics solutions and support operations in Iraq and facilitate cross-border trade by utilizing all capabilities in the financial, industrial and logistics sectors.”
Khalaf added, “This partnership with Aramex, known for its outstanding track record and extensive network, marks a significant step towards expanding our regional presence and diversifying our business portfolio. We are confident that this collaboration will help us achieve our shared goals and deliver exceptional services to our customers, both now and in the future, according to the highest global standards.”
This initiative comes at a time of significant opportunity in Iraq. The country’s e-commerce market is expected to grow at a CAGR of 11% between 2024 and 2029, reaching a projected market volume of USD 6.3 billion by 2029 according to market intelligence from Statista. Combining Aramex’s expertise and global network with ZK Holding’s strong local presence, the partnership will create a robust logistics ecosystem designed to unlock Iraq’s market potential and contribute to its economic development. The new entity will help Aramex strengthen its leadership position in the Middle East, enhancing trade across the region.
Arina Iraq draws its strength from a long legacy dating back to the establishment of the Electricity Distribution Company in 1924, which has expanded to include leadership in wind farm development.
At Arina Iraq, we offer innovative solutions for clean energy, relying on our vast experience, technical expertise, and business acumen. as we have been empowering Iraq’s residential and industrial sectors to embrace a sustainable future.
Our integrated solutions include photovoltaic solar systems, wind energy, energy management, efficiency systems, and electric vehicle charging stations. We stand out by delivering projects that meet the highest standards of safety and innovation, with a strong commitment to environmental responsibility.
Based in Iraq, Abraj Holding leads efforts in shaping the future of the economy through a diversified investment portfolio spanning real estate, construction, finance, and energy. Through its strategic investments and commitment to excellence, the company actively contributes to the socio-economic development of Iraq, making it a key partner in creating opportunities and fostering prosperity in the region.
Doma Steel has become a leader in manufacturing insulated metal panels (sandwich panels) in Iraq, the Middle East, and North Africa. Doma Steel’s products are known for their ease of use and high transportability and installation capabilities. We have become the preferred choice for building homes, halls, caravans, cold storage facilities, and more.
Today, Doma Steel is distinguished by offering fire-resistant metal panels that comply with international standards. With advanced production lines, the company’s daily production capacity is 6,000 square meters per shift, and its annual production capacity reaches two million square meters, making it a frontrunner in the industry.
Established in Baghdad, Pure Diamond serves as the primary marketing arm for ZK Holding. It plays a pivotal role in driving the company’s marketing activities, with a qualified and professional team spread across Iraq’s various provinces. The team works across diverse sectors, including sales, agency management, auditing, and data entry, ensuring the delivery of integrated and specialized services that support the company’s goals.
Al-Tanmiya Company was founded with a capital of 150 million Iraqi dinars. It has grown to become a key player in providing financial brokerage services for buying and selling securities (stocks and bonds) on the Iraq Stock Exchange. The company operates in accordance with the guidelines set by the Securities Commission.
Al-Tanmiya offers a wide range of services. These include opening trading accounts, depositing stock ownership certificates, and assisting investors in buying and selling stocks and bonds. The company’s comprehensive financial brokerage services strengthen investor confidence and contribute to the growth of the financial market.
Dari Real Estate offers integrated real estate marketing solutions, alongside property development and investment services. The company boasts a team of highly qualified local and international experts, enabling it to establish a strong presence in Iraq’s real estate market and build a wide network of prestigious clients.
Dari ensures the highest levels of comfort and security in its projects and offers competitively priced real estate solutions of superior quality. Given that real estate marketing is a key element in this sector, Dari focuses on providing innovative solutions that guarantee fast execution and delivery, positioning it at the forefront of leading companies in the field.
Established in Baghdad, Zeyad Al Khair Travel & Tourism is one of the leading Iraqi companies in bookings and ticket issuance. With a professional team of experienced employees, the company excels in offering a wide range of services in the travel and tourism sectors.
The company provides a variety of tourism programs worldwide, as well as organizing both domestic and international trips. Additionally, it offers flexible Hajj and Umrah plans, ensuring a smooth and comfortable travel experience for its clients.
Al-Sharq Insurance Company was established as part of a strategy to complement the success led by ZK Holding, providing advanced and comprehensive insurance solutions.
The International Development Bank (IDB) is a key strategic sector within the ZK Holding portfolio and the largest private bank in Iraq. It is the only bank licensed by the UAE Central Bank, offering a comprehensive range of financial services to citizens, residents, and investors.
The bank focuses on promoting financial inclusion through innovative banking solutions tailored to meet the needs of individuals, SMEs, and large corporations. By combining advanced technology with human relations, IDB achieves the highest levels of efficiency.
With its Dubai branch, IDB aims to strengthen economic relations between Iraq and the UAE, support trade between the two countries, and provide innovative financial solutions to help companies achieve their goals in the region.
