New 900,000 sqm Riyadh logistics park to support Saudi Vision 2030
Agility has announced the opening of a new 900,000 square meter logistics park in Riyadh, part of a series of investments in the country valued at US$267 million or 1 billion Saudi riyals (SAR).
The new facility, inaugurated on October 17, was developed by Agility Logistics Parks (ALP) and includes 250,000 sqm of built-up, high standard warehousing and logistics facilities. The Riyadh ALP will serve leading multinationals as well as small and medium-sized businesses operating in Saudi Arabia.
H.E. Dr. Nabil Alamoudi, Saudi Arabia Minister of Transportation, said: “The Kingdom of Saudi Arabia is heavily investing in logistics infrastructure, to enable us to compete globally, in line with the goal set out in Vision 2030. The support of key private sector partners, such as Agility, will help us achieve this vision.”
The development of the new Riyadh ALP is consistent with Saudi Arabia’s intent to become a regional and global logistics hub.
Among the goals outlined as part of the country’s Vision 2030, the Saudi government seeks to diversify the economy, grow the private sector, create new jobs, improve its competitiveness, become a logistics leader, increase non-oil exports, and draw foreign investment.
Henadi Al-Saleh, Chairperson, Agility, said: “Agility is committed to building infrastructure that will strengthen the business environment for both multinationals and small and medium-sized businesses in the Kingdom.
“Our investments, valued at SAR 1 billion, are aimed at driving the development of logistics facilities across Saudi Arabia. The Agility Logistics Park in Riyadh represents our commitment to supporting the Kingdom’s 2030 vision to become a regional and global logistics hub.”
Across the GCC, and in Saudi Arabia, Agility also invests in technology to transform the logistics industry.
Agility is an investor in Homoola, a digital load-matching service that is based in Saudi Arabia and uses technology to improve road freight efficiency by connecting shippers and trucking companies.
In addition, Agility’s digital logistics arm – Shipa – also operates in the Kingdom, providing last-mile delivery services as well as access to the world’s most comprehensive online freight forwarding platform.
In the 2019 Agility’s Emerging Markets Logistics Index, Saudi Arabia ranked sixth globally, and fifth for business fundamentals, among the world’s 50 leading emerging markets, indicative of the country’s notable improvement in its business environment.