King Abdullah Economic City (KAEC), described as the largest privately funded new city development in the world, has signed a contract with Alshaya International Trading Co., a major international retail franchise business, to lease 91,000 sqm 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 the Kingdom by providing the location for a new west coast logistics hub.
The Industrial Valley has a direct connection to the King Abdullah Port, on the Red Sea.
Mohammed Alshaya, executive chairman of M.H. Alshaya Co., said: “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 KAEC will support our goals.”
KAEC’s Group CEO and Managing Director Fahd Al-Rasheed said: “KAEC is delighted to welcome Alshaya to the growing community of leading businesses from the region that sees the city as a premium destination for capital investment.”
KAEC IV’s CEO Rayan Qutub said: “The decision by Alshaya to commence operations in the IV 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.”
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.

Source: Arab News