Kuwait’s Agility invests $163m to build Jeddah Logistics Park in Saudi Arabia

Kuwait’s Agility invests $163m to build Jeddah Logistics Park in Saudi Arabia

Kuwaiti supply chain services and infrastructure company Agility is set 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 will see the construction of a modern warehousing complex on a 576,760 square metres parcel south of Jeddah, starting in the first quarter of 2023. The opening of the Agility Logistics Park – Jeddah is anticipated in Q1 2025. Agility will invest SAR611m ($163m) to build the park and have the right to operate it for 25 years. Agility currently operates the country’s most advanced logistics parks: Agility Logistics Parks in Riyadh (870,000 square metres) and Dammam (200,000 square metres). The announcement comes days after the Saudi government unveiled a plan to transform the kingdom into a global logistics center as part of Saudi Arabia’s broad Vision 2030 strategy. The Global Supply Chain Resilience Initiative (GSCRI) is intended to attract $11bn in fresh investment in its first two years and position the country as a key link in global supply chains through development of logistics and industrial infrastructure, economic cities, and green energy, innovation and manufacturing. Governor