KING Abdullah Economic City (KAEC) has signed a contract with Mikati Contracting Est. to build a unique Logistics Park located in Phase B1 of the Industrial Valley. The SR26.6 million facility, comprising prefabricated light-manufacturing and warehousing units, will be completed by the third quarter of 2016. The Industrial Valley Logistics Park is intended to simplify the process for new businesses setting up in the Industrial Valley. The plug and play facility allows companies to establish their operations quickly, saving time and money in setup costs and accelerating the start of commercial activities. Strategically located with direct access to King Abdullah Port, the Logistics Park comprises 12 interconnected units with a total gross plot area of more than 30,000 square meters. "The Industrial Valley at KAEC is rapidly establishing itself as the key manufacturing and logistics hub in the region," said Fahd Al-Rasheed, managing director and CEO of KAEC. "The Logistics Park adds a new dimension to the wide range of services offered by the Industrial Valley and we are already experiencing high demand for reservations." Each of the units in the Logistics Park offers 1,026 sqm of open space that can be utilized for a wide range of light manufacturing activities or for warehousing. Internally, each unit is 8-meters in height and includes a 100 sqm mezzanine floor. The park is adjacent to King Abdullah Port and connected to the Industrial Valley's advanced infrastructure including comprehensive water and power grids, sewage, telecommunications, storm runoff and road networks. The logistics cluster is the largest component of the Industrial Valley. Thirty-one shipping and logistics companies are already invested in the development, which has attracted more than 100 national and international companies across the logistics, FMCG, plastics, building materials, pharmaceutical and automotive sectors. "Phase 3 of the Industrial Valley continues to attract key anchor tenants drawn by our strong value proposition, our excellent strategic location and our complete range of facilities and housing solutions," said Rayan Qutub, CEO of the Industrial Valley at KAEC. "KAEC's geographic location gives it a strategic reach to 250 million consumers in the Arab world and East Africa, making the city the location of choice for foreign and domestic investment."
