Masarat Mobility Park unveils premier automotive and mobility hub in KAEC
Masarat Mobility Park, a joint venture between TASARU Mobility Investments (a PIF Company), Zamil Group Real Estate, Abdullah Ibrahim Alkhorayef Sons, and Dar Al Himmah Projects, announces the establishment of its automotive and mobility park in KAEC.
Positioned as a mobility hub focusing on automotive trading, logistics solutions, and manufacturing activities, the Park aligns with Saudi Vision 2030 by advancing the localisation of the automotive sector, promoting economic diversification, and attracting global automotive and mobility brands through strategic real estate offerings.
King Abdullah Economic City, Saudi Arabia: Masarat Mobility Park, a strategic partnership between TASARU Mobility Investments, Zamil Group Real Estate, Abdullah Ibrahim Alkhorayef Sons, and Dar Al Himmah Projects, has announced its automotive and mobility hub in King Abdullah Economic City (KAEC). This project, covering an area up to 2 million square meters, serves as a cornerstone in supporting Saudi Vision 2030 and has commenced on site works for the first phase of development.
Masarat Mobility Park aims to enhance the Kingdom's status as a prime destination for automotive and mobility solutions while promoting economic diversification and industrial growth. It has already secured initial commitments and attracted several global automotive suppliers to set up their businesses in the park. Masarat Mobility Park is also dedicated to developing local talent and upskilling labour by partnering with regional and international educational institutions. These collaborations aim to provide comprehensive training on the latest technologies, trends and best practices, and to prepare individuals for successful careers in the fields of automotive manufacturing and automation.
Capitalising on the strategic location of the Red Sea and KAEC's Special Economic Zone (SEZ), the Park is set to provide multimodal connectivity to sea, air, road transport services, and future rail infrastructure, making it ideally suited for automotive and mobility brands aiming to increase regional operations and penetrate the Middle East, Africa, and European markets.
The development of Masarat Mobility Park supports the goals of Saudi Vision 2030 by positioning Saudi Arabia as a leading regional hub in the automotive and mobility sector, fostering growth in the industry, decreasing dependence on imported automotive products, enhancing local manufacturing capabilities and promoting job creation. The project is expected to generate thousands of jobs, particularly in the fields of automotive technology, logistics management and distribution, and parts manufacturing.
In a statement about the announcement, Muhammad Alshiha, Chairman of Masarat, said: "The establishment of Masarat Mobility Park reflects PIF's commitment to partner with the private sector in attracting global automotive companies and in building a world-class automotive hub.'
The Park has received eligibility certification from the Economic Cities and Special Zones Authority (ECZA) to launch operations within KAEC SEZ and attract investment under ECZA's supportive framework, enabling investors to set up and manage their business efficiently.
Tienie Ferreira, CEO of Masarat, stated 'I am proud to lead an organisation shaping the future of the automotive and mobility industries in Saudi Arabia. We look forward to partnering with our customers and stakeholders alike in building a unique platform.'
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