King Abdullah Economic City (KAEC) recently announced the signing with Almarai for the purchase of 200,000 sq. meters of land at the Industrial Valley in KAEC. Abdulrahman Al-Fadley, CEO, Almarai, expressed his satisfaction in signing the contract and stated that the purchase is a key part of Almarai's strategy to expand and grow in the Saudi market.
Fahd Al-Rasheed, MD and CEO, KAEC, said: "We are delighted to have Almarai in KAEC's Industrial Valley and to host their new project as part of their strategic expansion plans. The infrastructure facilities we provide at KAEC are tailored to support industry and manufacturers. These industries have the advantage of being located close to a new international seaport on the Red Sea, which gives them a clear competitive advantage in domestic distribution and access markets for their products."
Al-Rasheed added: "There are numerous advantages that KAEC offers to local and global companies, which help creating a healthy investment environment. Advantages include clear and business-friendly regulations with hassle-free processes; ease of permit and license issuance; the possibility of providing qualified manpower through training centers to further develop Saudi talents; the availability of housing solutions within the Industrial Valley and direct link with the KAEC seaport which make the Industrial Valley a global logistical hub and an access point to reach about 250 million consumers in the MENA. Further the Haramain Train station in KAEC, which will connect the cities of Makkah, Madinah, Jeddah and KAEC will reduce the commuting time between KAEC and Jeddah to just 25 minutes.
KAEC has already succeeded in leasing Phase I of the Industrial Valley and has now launched Phase II, to become the home of numerous industrial complexes specializing in manufacturing medicines, plastics, construction materials, food products and consumer goods. Almarai joins a list of major companies located in KAEC.
