The contract was signed by Hamza Al-Askar, Deputy State Properties General Administration Representative, and Maher Jaber Al Thabit, Vice President of Agility Logistics Parks, at the SPGA headquarters in Riyadh.
Supply chain services and logistics specialist, Agility, is to build a large logistics park for storage and distribution near Jeddah as part of a land-concession agreement announced by Saudi Arabia’s State Properties General Administration (SPGA).
The project at Jeddah-Al Mahjar involves the construction of a warehousing complex on a 576,760 m2 parcel of land south of Jeddah, starting in the first quarter of 2023. Opening of the Agility Logistics Park in Jeddah is anticipated in the first quarter of 2025.
Under the terms of its agreement with SPGA, Agility will invest SAR 611 million (US$ 163 million) to build the park and have the right to operate it for 25 years. Agility already operates logistics facilities in Riyadh and Dammam.
“Agility’s Jeddah complex will accelerate Saudi economic growth and make it easier for international and local companies to expand in the Kingdom,” commented Michel Saab, CEO of Agility Logistics /Global Operations. “Ultra-efficient warehousing and distribution are a huge competitive advantage. Companies operating from these parks shorten their time-to-market, reduce cost and risk, increase inventory turns and boost productivity.”
