Media Centre

King Abdullah Economic City has signed a contract with MASDAR Building Materials, a subsidiary of Al-Muhaidib Business Group, for the purchase of 150,000 sqm land in Phase 2 of the Industrial Valley where MASDAR will establish a distribution center, warehouse and logistical facilities as part of its local and regional expansion plans.

The contract took place in Bay La Sun Hotel and Marina in KAEC, which was signed by Mr. Fahd Al-Rasheed, Managing Director and CEO of KAEC, and Mr. Emad Muhaidib, Chairman of the Board of Directors of MASDAR.

Welcoming MASDAR as the latest company who has recently join and invested in KAEC, Mr. Al-Rasheed emphasized the prominence enjoyed by MASDAR in the building materials sector. He said: “The many leading local and international companies that have established operations in KAEC Industrial Valley made their decision based on the world-class infrastructure and service facilities coupled with the strategic advantage of the unrivalled transportation facilities, including the direct link to King Abdullah Port, which makes KAEC a unique global logistics destination that provides access to 250 million consumers in the Middle East and North Africa.”

Mr. Rasheed also pointed out that KAEC’s success in attracting investors from the Kingdom and abroad resulted in Phase 1 of the Industrial Valley selling out very quickly and the leasing of land in Phase 2 is proceeding at an accelerated pace, adding “Currently we are developing an infrastructure of more than 28 million sqm to keep up with the growing demand for industrial land.”

Also commenting, Mr. Emad Muhaidib expressed his great satisfaction with the decision to invest in the Industrial Valley since it opens up a new world of promising opportunities for MASDAR. He went on to say: “Founded more than 40 years ago, MASDAR specializes in importing and exporting building materials for wholesale and retail sales, and today is considered one of the leading companies in its field in the region.
“We are at an important stage in our journey since at the beginning of this year the company became a closed joint stock company with a capital of SR 400 million. Now we aspire to strengthen our leading position and enter new markets by taking advantage of the many benefits offered by KAEC Industrial Valley, most importantly the multiple transportation facilities including King Abdullah Port, the Haramain Railway and the new super highways that will connect KAEC to Jeddah, King Abdulaziz Airport, Makkah and Madinah as well as all other parts of the Kingdom.” Mr. Al-Muhaidib also stated MASDAR’s commitment to providing job opportunities for Saudi youth, noting that investing in qualified Saudi cadres is the real “capital” for companies and is a key part of their social responsibility towards the community.

Adding his comments, Mr. Rayan Qutub, Chief Operational Officer of the Industrial Valley in KAEC, said: “’The Industrial Valley covers 55 million sqm, which constitutes one-third of the total land area of KAEC, and is globally renowned for the world-class standards of its highly advanced infrastructure and service facilities. “We have been able to attract more than 70 national and international companies, of which some are already operational, based in six clusters: pharmaceutical; FMCG; logistics; plastics; building materials and automotive.”
Mr. Qutub concluded by saying: “In addition, we are enhancing our commitment to provide our investors with every facility by developing The Village, a housing project for workers and supervisors employed in the Industrial Valley.”

MASDAR has more than 161 showrooms in Saudi Arabia specializing in steel, wood, hardware, rivets and fasteners, art supplies and other building materials. The company is a member of Al-Muhaidib Business Group which has a 60 year history of impressive achievements.