Rasheed (left), Managing Director and CEO of KAEC, and Jamal Abdullatif Jamjoom, delegated member of the board of Abdullatif Mohammed Salah Jamjoom & Bros. sign the agreement. JEDDAH – King Abdullah Economic City recently signed an agreement with Abdullatif Mohammed Salah Jamjoom & Bros. for the purchase of 150,178 square meters of land at the Industrial Valley in KAEC to build a warehouse and logistics center for its products. The contract was signed by Fahd Bin AbdulMohsen Al-Rasheed, Managing Director and CEO of KAEC, and Jamal Abdullatif Jamjoom, delegated member of the board. Al-Rasheed said "King Abdullah Economic City continues to attract giants from various local and international industries. KAEC's Industrial Valley has been designed using the best standards in the world in planning the industrial zone and provides all the services necessary for the establishment of manufacturing and logistics facilities." He added "KAEC is steadily advancing in its plans to establish a modern, civilized, integrated environment. As part of its integration plans, KAEC has formed strategic partnerships and agreements with various entities that can add value to its global vision." "We were able to provide all the requirements and needs that local and international companies seek to insure their solid establishment in Saudi Arabia which is once again assured by today's contract signature with one of the national pioneer companies with international potentials and standards," Al-Rasheed further said. Ahmed Ibrahim Linjawy, President of the Industrial and City Services in KAEC, stressed the importance of the Industrial Valley. He said "KAEC's Industrial Valley currently offers fully serviced land plots of various sizes with electricity, water, sewage network, telecommunications services, paved roads and storm water drainage system to prevent flooding. The Industrial Valley has been designed using global standards for industrial zones, to become a hub for a large number of local and global industrial companies looking to establish projects either through ownership or long-term lease." He added "Phase I of the Industrial Valley has been leased to large local and international companies such as Pfizer, Sanofi Aventis, Mars, Greif, and TOTAL to name a few, with a total space of 1.6 million square meters. Phase II of the Industrial Valley is currently under development with an area up to 7 million square meters."
