BINZAGR COMPANY MAKES FURTHER INVESTMENT IN INDUSTRIAL VALLEY AT KING ABDULLAH ECONOMIC CITY
SECOND PURCHASE OF LAND FOR ITS STORAGE AND LOGISTICS SERVICES FACILITIES ON AN AREA OF 163,453 SQUARE METERS
Binzagr Company, has purchased 163,453sqm of land in the Industrial Valley at King Abdullah Economic City (KAEC) as part of its strategic expansion plans to serve markets in Saudi Arabia and MENA. Binzagr will establish a new state-of-the-art logistics center that will strengthen its ability to provide premium customer service and guarantee the quality of its products, in addition to enhancing the speed, flexibility of movement and transportation of its products around the Kingdom through the land bridge.
The new land purchase will add to its previous acquisition of 300,000 sqm in the Industrial Valley. Construction is expected to commence by Q2 2018 and the first production line is scheduled to be operational by Q3, 2019. Establishing these new facilities reflects Binzagr’s confidence in the Industrial Valley’s standing, as well as the features that characterize it as a major logistics center on the Red Sea serving the entire region including Saudi Arabia, the Gulf Cooperation Council countries, and the Middle East and North Africa region.
“We are very pleased and proud that Binzagr has decided to expand their presence in the Industrial Valley based on their future business needs,” said Fahd Al-Rasheed, Managing Director and Group CEO, King Abdullah Economic City. “By making this further investment Binzagr recognizes KAEC-IV as the main logistics hub on the Red Sea and in the entire region. In addition, the land bridge will enable us to easily reach all regions of the Kingdom.”
Al-Rasheed also expressed his pride in the growing number of investors in KAEC, which shows the prestigious standing the city has acquired as one of the largest and most important investment destinations regionally, as well as one of the most prominent business incubators for both local and international investments in the Kingdom.
The Industrial Valley’s strategic location and its unrivalled transportation facilities, including King Abdullah Port, which is capable of serving the world’s largest container ships, and the city’s connection to the national road network, link KAEC to local and overseas markets, enhance opportunities for commercial growth and provide job opportunities for citizens.
Binzagr Company is one of the leading distributors in Saudi Arabia, with a history of more than 130 years of continued service.
Currently, the company distributes over 1,500 Stock Keeping Units (SKUs) comprising 55 leading brands spread across 28 categories. The company’s consumer product portfolio includes Ambient Food & Drinks, Chilled & Frozen Food Products, Personal & Home Care, and Automotive Tires.
“We have gained the trust of local consumers by offering our high quality products over a period of many decades,” said Abdullah Binzagr, CEO and Chairman of Binzagr Group. “As always, we have absolute confidence in the Saudi economy and our expansion in the Industrial Valley aims to support the company’s future growth and promote our leadership in the field of product distribution and the FMCG sector. We are confident that our investment in King Abdullah Economic City will support our efforts to make a difference in our products and services, in addition to adding value to all those customers who consume our products. We believe that the outcomes will show as soon as we start operations in our new location at King Abdullah Economic City.”
“Binzagr is a valued tenant company in King Abdullah Economic City. As one of the leading distribution companies in the Kingdom of Saudi Arabia, operating with the highest international standards and relying on high quality networks, Binzagr is a brand name we rely on to add value. This is in line with our ambitions to supply local and international markets with high quality products, based on the variety of products offered by the company and the special standing they’ve had with Saudi consumers throughout the generations,” said Eng. Ayman Mansi, CEO of the Industrial Valley in KAEC. “The logistics services sector attracts special attention since it is our largest sector and is growing at an accelerating pace, which makes the Industrial Valley a major destination and an advanced supply point for logistics and industrial services, due to its location and logistics linkage.”
About King Abdullah Economic City
King Abdullah Economic City (KAEC) is the largest privately-funded new city in the world. Situated on the west coast of the Kingdom of Saudi Arabia, KAEC covers an area of 181 square kilometers of land, approximately the size of Washington DC. KAEC comprises King Abdullah Port, the Coastal Communities residential districts, the Industrial Valley and the Hejaz district, which includes the Haramain high speed rail station. The city is under development by Emaar, The Economic City, a publicly listed Saudi joint-stock company established in 2006.