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King Abdullah Economic City - King Abdullah Economic City (KAEC), the largest privately funded new city development in the world, has signed a contract with Alshaya International Trading Co., a leading international retail franchise business, to lease 91,000 square metres of land located in the third phase of the Industrial Valley.
Alshaya offers consumers a wide portfolio of more than 40 retail brands including Starbucks, H&M, Mothercare, Debenhams, and Victoria’s Secret, with over 800 stores across the country. The new lease will support Alshaya’s ongoing expansion plans in KSA by providing the location for a new west coast logistics hub. The Industrial Valley enjoys a direct connection to the King Abdullah Port, which is strategically located on the Red Sea, one of the region’s most important maritime channels for international cargo transport. It is also supported with well-planned infrastructure, allowing Alshaya to expand its logistics expansion at pace.
On the occasion of the contract signing, Mr Mohammed Alshaya, Executive Chairman of M.H. Alshaya Co. said: “The Kingdom of Saudi Arabia is one of Alshaya’s largest operating markets, and we expect to open over 150 new stores there next year, with ongoing expansion continuing into 2018 and beyond. Our growth depends on having an efficient supply chain to ensure we can provide our customers with new products in a timely way and we are confident that our investment in the King Abdullah Economic City will support our goals.”
“KAEC is delighted to welcome Alshaya to the growing community of leading businesses from the region that see the city as a premium destination for capital investment,” said Mr. Fahd Al-Rasheed, Group CEO and Managing Director of KAEC. “Our open door policy toward inward investment continues to attract world-class international companies, supporting the city’s growth and contributing to the government’s vision for the future of Saudi Arabia’s non-oil economy.”
“The decision by Alshaya to commence operations in the Industrial Valley further cements our reputation as the first choice for leading companies seeking to establish or expand their presence in Saudi Arabia and the wider GCC region.” said Rayan Qutub, CEO of the Industrial Valley at KAEC. “We look forward to demonstrating how our strategic location and our extensive trade and logistics infrastructure will support the company’s expanding operations and its continuing success.”
The Industrial Valley has already attracted 120 major local, regional and international companies, of which 25 have already gone live with their operations and 35 are currently completing their facilities.
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About King Abdullah Economic City
Located on the west coast of Saudi Arabia on a total area of 181 square kilometers – about the size of U.S. capital Washington, D.C. – King Abdullah Economic City is a fully integrated environment to work, live and play, connected by a major port and national road and rail networks. The city’s strategic location and wide range of residential, business, and serviced industrial land solutions on offer create significant growth and investment opportunities. Regulatory processes are streamlined by the presence of a single regulator, the Economic Cities Authority.
About Alshaya International Trading Co.
Alshaya International Trading Co. is a member of the Alshaya Group, a leading international franchise operator for over 75 of the world’s most recognised retail brands, including Starbucks, H&M, Mothercare, Debenhams, The Cheesecake Factory, IHOP, P.F. Chang’s, American Eagle Outfitters, Pottery Barn, Pottery Barn Kids and Boots. The company operates 3,400 stores across diverse customer sectors: Fashion & Footwear, Health & Beauty, Food, Optics, Pharmacy, Home Furnishings and Leisure & Entertainment.
Alshaya’s stores can be found in markets across the Middle East and North Africa, Russia, Turkey and Europe and the company employs more than 47,000 people from over 120 nationalities.
The company has established itself as the industry leader across these territories through a combination of local market understanding and a comprehensive commitment to customer service. Growth in each of its operating divisions and brands is supported by continuous investment in talent and infrastructure. It applies best practices in retail operations, merchandising, marketing, information technology, logistics, real estate, human resources and financial controls.
Alshaya is the retail business of the Alshaya group of companies, which was founded in Kuwait in 1890 and today represents one of the most dynamic companies in the Middle East. In addition to its retail operations, the Alshaya Group is active in a number of other sectors including real estate, automotive, hotels, trading and investments.
Learn more about the company at www.alshaya.com or on Facebook at www.facebook.com/Alshaya.
© Press Release 2016
