Business & Money | Tuesday 10 May, 2016 5:47 am |

Rayan Qutub, CEO of the Industrial Valley, and Dr. Abdulaziz AlBabtain, Himmah Logistics Chairman of the Board, sign the agreement

JEDDAH — King Abdullah Economic City (KAEC) has signed with leading logistics company Himmah Logistics to purchase land in the third phase of KAEC’s Industrial Valley.

The land, spanning 113,000 sqm, will be allocated for the establishment and operation of a number of facilities in the logistics services sector. The company is expected to launch its storage and distribution operations by next year when it will begin offering its logistics services.

“We are excited to welcome Himmah Logistics to KAEC, the latest company to take advantage of the city’s advanced infrastructure, public services and residential facilities. KAEC is a unique launch point into local and international markets,” said Fahd Al-Rasheed, GCEO and Managing Director of KAEC. “The city is making strong progress in its expansion plans and attracting a wide range of top-tier investments, fast becoming the environment of choice for investors and residents.”

Himmah Logistics owns a number of investments across different sectors.
Since its founding in 2013, the company has continued to develop its expansion strategies to include logistics services and real estate development.

“This partnership is part of our continued desire to expand our investments in the area, and we are confident that KAEC will support Himmah Logistics in providing solutions that meet our clients’ needs,” said Dr. Abdulaziz AlBabtain, Himmah Logistics Chairman of the Board. “The Industrial Valley is the perfect location for investment due to the flexibility and professionalism offered and ease of set-up. This is supported by safe, strategic distribution through King Abdullah Port, allowing access to key foreign markets. It was a priority for us to have a presence in this strategic location, to be nearer to our global clients and manufacturers in KAEC. This move will help us connect extensively to our clientele, and will also mean we exist at strategic locations across the Kingdom especially near ports, airports and industrial areas. Hence this is part of our overall strategic goal to become the leading supply and catering company in the Kingdom.”

The logistics sector is the fastest growing sector in the Industrial Valley and accounts for 35% of the companies currently there.

“The Industrial Valley has succeeded in attracting more than 111 of the largest national, regional and international industrial companies, 22 of which have started production, and 32 of which are under construction,” said Rayan Qutub, CEO of the Industrial Valley.