Media Centre

King Abdullah Economic City and Mohammed Yousuf Naghi & Brothers Group have signed a contract for the purchase of 1,100,000 sqm land in KAEC-Industrial Valley phase two. The contract was signed by Sheikh Mohammed Yousuf Naghi, Chairman of the Board Directors and CEO of Mohammed Yousuf Naghi & Brothers Group, and Mr. Fahd Al-Rasheed, Managing Director and CEO of King Abdullah Economic City.

On this occasion Sheikh Mohammed Naghi said “King Abdullah Economic City has a strategic location and today has become one of the most important stimulators for economic growth in the Kingdom. This contract will strengthen our group’s leadership and will complement our business development strategy to elevate the level of service offered to our clients and partners.”

Naghi went on to say: “We will meet the increasing demand on vehicles and raise our capabilities in order to provide maintenance and after sale services. We will build centralized warehouses for Rolls Royce, BMW, JLR, MINI and HYUNDAI according to the international standard. In addition, we will construct a spare parts warehouse and a center for preparing sold cars, as well as an accessories center. In the consumable sector, there will be supporting central warehouse for all the international brands that the group represents such as: MARS, DETTOL, L’OREAL, AMRECANA, PINAR, HOLSTEN and other brands. In the future, we are aiming to invest in the near future to establish factories for international brands.”

Mr. Fahd Al-Rasheed mentioned that Al-Naghi Group will be benefiting from the advanced infrastructure and the distinct governmental services provided to all the city clients. He said:“ The Industrial Valley has the potential to enable the investors to reflect the various aspiration and future plans, especially that the valley is linked directly to King Abdullah Port which began pilot operational phase, and the business district currently contributing to the expansion of business activities in the Kingdom. In addition, KAEC will host one of the Haramain Railway stations that connect with Jeddah and King Abdulaziz International Airport in less than 30 minutes and Makkah and Al Madinah within one hour.”

Mr. Ahmed Linjawy, President of the Industrial and City Services in King Abdullah Economic City said: “King Abdullah Economic City continues to attract giants from various local and international industries, some at the stage of constructing their commercial and manufacturing facilities and other have already started production and exporting; such as MARS, giant chocolate factory, TOTAL, French Oil company, Greif, world leader in the industrial packaging and plastic containers, Petra for HVAC systems. Certainly these plants will achieve one of our strategic objectives by providing many job opportunities for the Saudi youth. Furthermore, some of these companies are already offering training programs for Saudi cadres.”