Yasser Bin Youssef Mohammed Naghi (right), owner of Cigalah Group, and Ahmed Linjawy, President of Industry and City Services in KAEC, sign the agreement. King Abdullah Economic City (KAEC) recently announced the signing with Cigalah Group for the purchase of two land plots at the Industrial Valley in KAEC. The signing comes in line with KAEC's strategy to attract leaders from various local and international industries. The contract includes two land plots - the first with an area of 125,000 square meters for Saudi Cigalah Group, one of the largest and most popular distributors of food products, medicines, and cosmetics in the region. In addition, it will be used by Cigalah Group for logistic services as a base for strategic expansion. The second plot has an area of 73,000 square meters and belongs to Cigalah warehouse, which will enter a commercial partnership with Julphar Pharma, one of the largest pharmaceutical companies in the GCC region, to establish a world-class pharmaceutical plant. Yasser Bin Youssef Mohammed Naghi, owner of Cigalah Group, expressed his optimism about investing in KAEC's Industrial Valley and said: "We chose KAEC because of its strategic location by the Red Sea, with the Industrial Valley (IV) being directly linked to KAEC seaport, which makes the IV a global logistical hub and an access point to reach about 250 million consumers in the Middle East and North Africa. Further the Haramain Train station in KAEC which will connect the cities of Makkah, Madina, Jeddah and KAEC will reduce the commute time between KAEC and Jeddah to just 25 minutes, as well as the land bridge project that will connect the Kingdom's eastern and western regions through a sophisticated railway network." Fahd Al-Rasheed, MD and CEO of King Abdullah Economic City, said "for Cigalah Group to choose the Industrial Valley in KAEC signifies the strength of KAEC's investments and achievements. Furthermore, the Industrial Valley has been developed according to global standards for infrastructure, making it a destination of choice for both local and international companies."
