KAEC — King Abdullah Economic City (KAEC) has recently signed a contract with Abdullah Abbar & Sons Cold Stores Company for an Industrial & Logistics plot in KAEC's Industrial Valley-phase 3. Abdullah Abbar & Sons, formerly known as Abbar and Zainy, was founded in the 1950s and is one of the longest established leaders of the FMCG sector in the Kingdom of Saudi Arabia. The contract includes a land plot of 102,702 square meters for the construction of a distribution and logistics center as well as packaging operations and 3PL Services. Fahd Al-Rasheed, Group CEO and Managing Director of KAEC, and Abdulkarim Abbar, CEO of Abdullah Abbar and Sons Cold Stores Company, witnessed the signing of agreement. Al-Rasheed noted that it will add a new economic dimension to the diversity enjoyed by the Industrial Valley as a starting point for investors to expand and develop their activities. He pointed out that KAEC has become a new major hub for industrial and logistic services, highlighting the exceptional advantages of the Industrial Valley including direct contact with King Abdullah Port, which began full export and import operations in January 2014. In addition to KAP, the new road links significantly enhance the operational capacity of companies operating in the Industrial Valley. Abdulkareem Abbar said investing in KAEC holds promising horizons and guaranteed dividends, enabling the company to achieve new levels of excellence in serving its customers in the food market and as major logistics services provider company. “We have strong reciprocal links with consumers of our products further to strong alliance with our Logistics services clients that we have acquired over 60 years' experience in import and distribution where we support their confidence by our commitment to maintain the high quality of our brands and Logistics services, ensuring they are in accordance with global specifications and standards,” he said. Investing in the Industrial Valley will contribute directly to supporting the company's journey and its aim to reach the largest possible number of consumers and Logistics clients both inside and outside the Kingdom, he added. Rayan Qutub, CEO of the Industrial Valley in KAEC, said “Saudi Arabia accounts 60% of the food consumption and 75% of food processing in the Gulf region, and therefore we have developed the Industrial Valley as the new value-added logistics and manufacturing hub with all the advantages of an unrivalled strategic location.” He noted that Abdullah Abbar and Sons Cold Stores is one of the Kingdom's biggest national companies with a range of brands that are long established favorites among consumers in Saudi Arabia. “Abdullah Abbar and Sons Cold Stores will be an important addition to the cluster of food companies operating in the Industrial Valley, where the operational benefits include the modern and fully integrated infrastructure and many other unique advantages that enable investors to develop and diversify their local, regional and global business operations,” he noted. King Abdullah Economic City covers 181 million square meters of land and is being developed into a fully integrated city. It consists of: the Coastal Communities that offer total housing solutions for all segments of society, King Abdullah Port, Hejaz gate which includes one of the Haramain Railway Stations, and the Industrial Valley which extends over an area of 55 million square meters, and has signed with more than 93 national and international companies of which 8 are already in operation and 23 others are under construction. — SG
