Kuwait’s Agility with Saudi SPGA to build $163mn logistics park in Jeddah

Kuwait’s Agility with Saudi SPGA to build $163mn logistics park in Jeddah

Agility, a Kuwait-based supply chain service, infrastructure and innovation company, has revealed plans 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 calls for the construction of a modern warehousing complex on a 576,760 sqm parcel south of Jeddah, starting in Q1 2023. Opening of the Agility Logistics Park – Jeddah is anticipated in Q1 2025.

Under the terms of its agreement with SPGA, Agility will invest $163 million 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 sqm) and Dammam (200,000 sqm).

The announcement comes days after the Saudi government unveiled a sweeping plan to transform the Kingdom into a global logistics center as part of Saudi Arabia’s broad Vision 2030 strategy. Saudi Arabia’s Global Supply Chain Resilience Initiative (GSCRI) is intended to attract $11 billion in fresh investment in its first two years and position the country as a key link in global supply chains through the development of logistics and industrial infrastructure, economic cities, and green