Latest news with #SALLogisticsZone
Arab News
18-03-2025
- Business
- Arab News
$1.06bn deal signed to launch new logistics zone in Riyadh's Falcon City
RIYADH: A new SR4 billion ($1.06 billion) logistics zone will be created within Falcon City in northern Riyadh, after a deal between Saudi firms SAL and Sela Co. The development will provide integrated infrastructure combining Class A warehouses, multimodal connectivity, and smart logistics technologies to enhance supply chain efficiency and facilitate the faster movement of goods locally and regionally. The deal, which aims to strengthen the Kingdom's position as a global logistics hub, is backed by the Private Sector Partnership Program, also known as Shareek. The agreement comes as the Kingdom plans to invest more than SR1 trillion in the logistics sector by 2030, with the number of facilities already up by 267 percent since 2021. Commenting on the Falcon City deal, Omar bin Talal Hariri, CEO of SAL, said: 'The SAL Logistics Zone is not just a development project — it is a model for the future of integrated logistics services. 'We are leveraging technology and sustainability to create an advanced operational environment that attracts investment and supports the Kingdom's economic growth.' The partnership for the 1.5 million sq. meter logistics zone was signed in Riyadh in the presence of Minister of Transport and Logistics Services Saleh Al-Jasser, Minister of Investment Khalid Al-Falih, and CEO of the Shareek Program Center Abdulaziz bin Abdulrahman Al-Arifi, along with senior officials, investors, and business leaders. The zone will serve as a comprehensive hub catering to the increasing demand for custom-designed warehouses. 'Falcon City is more than just a development project; it is an integrated economic destination aimed at providing a modern business environment that supports multiple industries,' Rakan Al-Harthy, managing director of Sela, said. He further emphasized that the partnership with SAL Logistics Services will facilitate the establishment of state-of-the-art facilities that cater to local and international companies and enhance business and investment flow. This logistics zone significantly enhances the company's capabilities due to its strategic location near King Khalid International Airport, major highways, and railway networks. Falcon City spans 14.4 million sq. meters and will feature the Riyadh Exhibition and Convention Center, as well as a modern logistics zone designed to attract major global companies, an aviation runway, and an aircraft maintenance hub. The development also includes economic, commercial, and residential zones, as well as hospitality and entertainment areas and an outlet mall. This strategic partnership directly supports Saudi Vision 2030 by enhancing logistics connectivity, stimulating local and international investments, and developing modern infrastructure to attract businesses and investors. It also reinforces the Kingdom's role in regional and international trade, driving sustainable economic growth and positioning the country as a leading logistics powerhouse.
Zawya
18-03-2025
- Business
- Zawya
SAL joins the Private Sector Partnership Program (Shareek) and announces a SAR 4bln investment
Riyadh, Saudi Arabia – SAL Logistics Services has officially joined the Shareek Program through a strategic investment of SAR 4 billion to develop the SAL Logistics Zone in Falcon City, north of Riyadh. The announcement was made in the presence of H.E. Eng. Saleh bin Nasser Al-Jasser, Minister of Transport and Logistics Services, H.E. Eng. Khalid bin Abdulaziz Al-Falih, Minister of Investment, and H.E. Abdulaziz bin Abdulrahman Al-Arifi, CEO of the Shareek Program, along with senior officials and executives. This investment aligns with the Ministry of Investment's efforts to accelerate the growth of the logistics sector by attracting both local and international investors and fostering high-impact partnerships in this vital industry. These initiatives will enhance supply chain efficiency, improve the regulatory and operational environment, and solidify Saudi Arabia's position as a global logistics hub. The SAL Logistics Zone, spanning over 1.5 million square meters in Malham, north of Riyadh, will feature a fully integrated infrastructure, including state-of-the-art Class A warehouses, advanced operational facilities, multimodal connectivity, and smart logistics technologies. These enhancements will optimize operational efficiency and accelerate cargo flow both locally and regionally. Mr. Omar bin Talal Hariri, CEO of SAL Logistics Services, emphasized that this investment marks a strategic step in strengthening the company's capabilities and contributing to the National Transport and Logistics Strategy. He stated: 'Joining the Shareek Program reflects our ongoing commitment to investing in innovative logistics solutions, upgrading infrastructure, and enhancing supply chain efficiency in the Kingdom. The SAL Logistics Zone is not just another development project—it is a model for the future of integrated logistics services. By leveraging technology and sustainability, we aim to create an advanced operational environment that attracts investment and drives Saudi Arabia's economic growth.' H.E. Abdulaziz Al-Arifi, CEO of the Shareek Program, highlighted the importance of this partnership, emphasizing that the investment in the SAL Logistics Zone reinforces Saudi Arabia's leadership in the logistics and transportation sector while supporting major companies in achieving sustainable economic growth. He added: 'The Shareek Program is dedicated to empowering major companies to invest in strategic, high-impact projects that contribute to Saudi Vision 2030. SAL's integration into the program reflects the company's pivotal role in advancing Saudi Arabia's transformation into a global logistics hub. We look forward to witnessing the positive impact of this investment on the sector and strengthening the Kingdom's position in international trade while driving economic diversification.' This strategic partnership directly supports Saudi Vision 2030 by enhancing logistics connectivity, attracting local and international investments, and establishing a modern infrastructure that strengthens Saudi Arabia's role in regional and global trade.
