Every emerging market understands the importance of infrastructure development and logistics – both critical to sustained economic growth and competitiveness. This is why the signing of a major new logistics project between Abdul Latif Jameel and Saudi Arabia’s Civil Aviation Authority in November 2015, represents such good news for the country.
Abdul Latif Jameel Transport Ltd., partof Abdul Latif Jameel Investments, and the licensee of FedEx Express (the world’s largest express transportation company), will build a 5,000 m2 bonded hub facility at King Fahad International Airport. Abdul Latif Jameel Transport Ltd. was appointed as the exclusive FedEx Express authorized service provider in Saudi Arabia in January 2015 and now handles all of its international services to and from 220 countries.
According to the Saudi Arabia’s General Investment Authority (SAGIA), the country’s demand for international cargo is expected to grow by 5% and 7-8% for air and sea cargo, respectively by 2020.
Investing SR 1.2 bn in King Abdullah Economic City (KAEC) was first announced in 2013, we are committed to further shaping the future of our country and to creating a legacy of which we can all be proud. This includes the development of three major KAEC projects:
- a world class 1.5 million m2 automotive logistic hub
- a 57,000 m2 oil and lubricant factory, and
- a 15,000 m2 pre-cast concrete factory
“ The signing of a major new logistics project between Abdul Latif Jameel and Saudi Arabia’s Civil Aviation Authority in November 2015, represents good news for the country.”
Following its formation, Abdul Latif Jameel Investments has also opened an office in the Saudi capital, Riyadh, as a second geographic base from which to be poised to look to the future.
This will focus on so-called ‘sunrise’ industries and exploring major opportunities outside our core business lines, including, for example:
- greenfield investment
- joint venture and other partnership relationships, and
Looking to do what Abdul Latif Jameel does best: adding real value by incubating and nurturing growth.