Abu Dhabi: Al Masaood Group, one of Abu Dhabi’s leading business conglomerates, has successfully completed Phase 1 and Phase 2 of its bonded warehouse system in collaboration with the General Administration of Customs in Abu Dhabi. This collaboration is a result of a strategic partnership between the two entities announced in 2022 that aims to create better synergies between the government and private sectors, leading to improved work efficiencies and substantial cost savings. The successful implementation will also see more seamless operations for imported and exported goods at Al Masaood Group’s premises in Abu Dhabi.

“The completion of both phases of the bonded warehouse system is a significant milestone that marks a new era of seamless operations for Al Masaood Group’s imported and exported goods in Abu Dhabi,” said Ahmed Salmeen, Al Masaood Group’s Chief Executive, Government Affairs. “This was only realized with our steadfast partnership with the General Administration of Customs in Abu Dhabi and underscores our commitment to developing and nurturing alliances with private and government entities in the UAE to further support the country’s economic ambitions and reinforcing the nation’s role as a global business hub.”

Certified as a gold supplier for bonded warehouses, Al Masaood is also the first private sector company to be accredited by the General Administration of Customs in Abu Dhabi in the field of importing and exporting general goods under the global ‘Authorized Economic Operator’ program. With the successful implementation of the first two phases of the bonded warehouse system, Al Masaood will benefit from seamless Port-to-Warehouse operations covering all vehicles as well as all spare parts imported by the Group’s divisions, whether for vehicles or industrial engines. The operational implementation, ultimately, will significantly ease the process of shipment clearances for all goods and vehicles.

“The bonded warehouse system has inherent operational and cost benefits for Al Masaood Group. These benefits will also prove advantageous to end-users of our products and customers,” concluded Salmeen. “For example, with special customs and VAT exemptions, we can record 25-30% in deferred taxes over comparable non-bonded warehouses. We also benefit from long-term storage capabilities, convenient international shipping and exporting. We therefore look forward to continuing and strengthening our partnership with the General Administration of Customs in Abu Dhabi to further optimize the efficiency and cost-effectiveness of our import and export operations,” added Salmeen.

The continual partnership between Al Masaood Group and the General Administration of Customs in Abu Dhabi has created new avenues for the Group to grow in the logistics, storage, import and export sectors in the UAE and the Middle East. It also underscores Al Masaood’s quest to forge successful collaborations between the public and private sectors in the UAE.

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About Al Masaood

Established in 1970, Al Masaood Group was the first company to be registered in the Abu Dhabi Chamber of Commerce and holds trade registration No. 1. The company is the authorised dealer of global brands such as Nissan, INFINITI, Renault, Bridgestone, MTU, Volvo Penta, Nidec Leroy Somer, Renault Trucks and UD Trucks. The Group also has its own suite of homegrown businesses and brands.

Supporting the UAE’s strategy for sustainable growth and economic diversity, Al Masaood provides a wide range of industrial solutions for the strategic sectors – oil & gas, utilities, marine, heavy equipment & machinery, logistics, and modular construction. It also caters to various retail sectors, including automotive and accessories. Recently, Al Masaood has launched the UAE’s first local manufactured solar charging solution for electric vehicles and hybrid marine vessels.

Al Masaood manages First Stop and Autoserv retail outlets within ADNOC stations across Abu Dhabi, Al Ain, and the Western Region, offering a wide range of car pitstop services. It also owns and manages almost 40 prominent properties around the capital ranging from showrooms to offices, as well as a network of aftersales and certified pre-owned vehicles centres across the UAE.

Selected as one of Forbes' Top 100 Arab Family Businesses for two years in a row, the Group employs over 3,000 employees from 54 nations. With an active Emiratisation agenda and training programmes for both vocational and on-the-job skill advancement for Emiratis. The Group has an extensive CSR agenda in Abu Dhabi and supports the capital’s sporting initiatives run by Abu Dhabi Sports Council.