Global toy retailer Toys “R” Us have signed a contract to build a distribution centre in Saudi Arabia.
King Abdullah Economic City and Toys “R” Us said in a statement that they have signed a development lease contract for a 35,017 sq m plot in Phase 1B of the Industrial Valley.
The world-famous toy retailer will build a distribution centre that will be the hub for its expansion plan in Saudi Arabia, the statement said.
“We are very happy to welcome Toys “R” Us to join the fast increasing number of local and international market leaders who have chosen KAEC Industrial Valley as the base from which to grow their market share in Saudi Arabia and the Middle East”, said Ahmed Linjawy, president of Industry and City Services in KAEC.
He added: “KAEC supports investors and venture capitalists willing to invest in the Industrial Valley with a variety of owning and long-term leasing options.”
Omar Bakkar, general manager of Toys “R” Us, said: “Choosing the Industrial Valley for the site of our distribution centre is a key part of our five-year expansion plan to increase our market share in the Kingdom.
“Given the prime infrastructure and the excellence of the facilities and amenities, the deciding factors were the strategic location and logistical advantages that make KAEC the ideal location for our new Saudi hub.”
King Abdullah Economic City is one of the largest projects run by the private sector in the Middle East, and covers a total area of 168 million sq m along the coast of the Red Sea.
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