King Abdullah Economic City and Toys “R” Us have signed a development lease contract for a 35,017 sqm plot in Phase 1B of the Industrial Valley where the famous toy retailer will build a distribution centre that will be the hub for its expansion plan in Saudi Arabia and will ultimately create job opportunities in Toys “R” Us stores across the Kingdom.
“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 Mr. Ahmed Linjawy, President of Industry and City Services in KAEC.
Mr. Linjawy went on to say: "KAEC supports investors and venture capitalists willing to invest in the Industrial Valley with a variety of owning and long-term leasing options. This enables them to benefit from many of the main services offered by the city, for instance, the ease of issuing permits and licenses through the Economic Cities Authority, the availability of housing solutions within the vicinity of the Industrial Valley, the world class infrastructure, telecommunications and transportation connections. In addition, a coastal community lifestyle complete with fully integrated housing, medical and educational facilities; sports and social amenities, and retail outlets to suit all needs.”
Adding his comments, Mr. 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.”
Mr. Bakkar added:“We are confident of the value of our products and this encourages us to expand and reach all segments of society providing useful and joyful products for our children with high safety standards by insuring that all our products meet to the Saudi and international safety standards, where our motto is "Safety First".
King Abdullah Economic City is one of the largest and most important economical projects run by the private sector in the Middle East, it covers a total area of 168 million sqm along the coast of the Red Sea. Through its Industrial Valley KAEC has succeeded in attracting more than 50 national and international industrial companies. Strategically located and with its own seaport, KAEC offers a wide range of housing solutions that are suitably priced for different income levels, which are all supported by a high quality infrastructure and a complete range of services and facilities such as The World Academy School, which is already open with a future total capacity of 2,250 students, and a medical center for primary care and emergency operated by Dr. Soliman Fakeeh Hospital Company. In addition, retail stores have been fully leased and a number of restaurants, cafes, sales outlets and pharmacies are already open.