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Officials at the signing ceremony in Jeddah.

Alshaya to build new logistics hub in KAEC

JEDDAH, December 12, 2016

King Abdullah Economic City (KAEC), the largest privately funded new city development in the world, has signed a contract with Alshaya International Trading Company, a leading international retail franchise business, to lease a 91,000-sq-m area located in the third phase of the Industrial Valley.

A major player in Saudi Arabia, Alshaya offers consumers a wide portfolio of more than 40 retail brands including Starbucks, H&M, Mothercare, Debenhams, and Victoria’s Secret, with over 800 stores across the kingdom.

The new lease will support Alshaya’s ongoing expansion plans in Saudi Arabia by providing a location for a new west coast logistics hub, said a statement from KAEC.

The Industrial Valley enjoys a direct connection to the King Abdullah Port, which is strategically located on the Red Sea, one of the region’s most important maritime channels for international cargo transport. It is also supported with well-planned infrastructure, allowing Alshaya to expand its logistics expansion at pace, it added.

Saudi Arabia is one of Alshaya’s largest operating markets and the company expects to open more than 150 new stores there next year, with ongoing expansion continuing into 2018 and beyond, revealed Mohammed Alshaya, the executive chairman of MH Alshaya Company, after signing the contract with Fahd Al Rasheed, the group chief executive and managing director.
 
"Our growth depends on having an efficient supply chain to ensure we can provide our customers with new products in a timely way and we are confident that our investment in the King Abdullah Economic City will support our goals," he said.

Welcoming Alshaya to the fold, Al Rasheed said: "Our open door policy towards inward investment continues to attract world-class international companies, supporting the city’s growth and contributing to the government’s vision for the future of Saudi Arabia’s non-oil economy."

The Industrial Valley has already attracted 120 major local, regional and international companies, of which 25 have already gone live with their operations and 35 are currently completing their facilities, he stated.

Rayan Qutub, the chief executive of the Industrial Valley at KAEC, said: "Alshaya's decision to commence operations in the Industrial Valley further cements our reputation as the first choice for leading companies seeking to establish or expand their presence in Saudi Arabia and the wider GCC region."
 
“We look forward to demonstrating how our strategic location and our extensive trade and logistics infrastructure will support the company’s expanding operations and its continuing success,” he added.-TradeArabia News Service




Tags: logistics | Alshaya | King Abdullah Economic City | KAEC |

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