Agility, a supply chain services, infrastructure and innovation company, is set to build a major logistics park in an area south of Jeddah city at an investment of SR611 million ($163 million).
Announcing the mega development, Agility said a land-concession agreement has already been inked with Saudi Arabia’s State Properties General Administration (SPGA) for the key storage and distribution facility.
The project at Jeddah-Al Mahjar calls for the construction of a modern warehousing complex on a 576,760-sq-m plot south of the Saudi city, starting in Q1 2023. The Agility Logistics Park in Jeddah is targeted to open in Q1 2025.
Under the terms of its agreement with SPGA, Agility will be developing the park and will have the right to operate it for 25 years.
The logistics giant currently operates the kingdom’s most advanced logistics parks – the 870,000-sq-m Agility Logistics Parks in Riyadh and the 200,000-sq-m facility in Dammam.
The announcement came days after the Saudi government unveiled a sweeping plan to transform the kingdom into a global logistics centre as part of Saudi Arabia’s broad Vision 2030 strategy, it stated.
Saudi Arabia’s Global Supply Chain Resilience Initiative (GSCRI) aims to attract $11 billion in fresh investment over the 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 and manufacturing.