King Khalid International Airport in Riyadh. Getty Images
King Khalid International Airport in Riyadh. Getty Images
King Khalid International Airport in Riyadh. Getty Images
King Khalid International Airport in Riyadh. Getty Images

Saudi Arabia opens new economic zone at Riyadh airport to boost cargo capacity


Deena Kamel
  • English
  • Arabic

Saudi Arabia on Monday opened its first Special Integrated Logistics Zone at King Khalid International Airport in Riyadh as part of plans to boost its cargo capacity, bolster supply chains and become a global logistics hub.

US tech major Apple is among the first tenants at the three-million-square-metre area that is designed to attract the world's top multinational companies from sectors including electronics, technology, pharmaceuticals, luxury products, jewellery and aerospace components, Mohammed Alkhuraisi, vice president of strategy at the General Authority for Civil Aviation (Gaca), told The National.

The iPhone maker will base a regional distribution centre in Riyadh to serve local demand, export and re-export to neighbouring markets.

Saudi Arabia is currently in various stages of negotiations with 20 high-profile global companies within these sectors to relocate to the kingdom with incentives such as tax exemptions, 100 per cent foreign ownership, streamlined licensing processes and “relaxed” Saudisation requirements, Mr Alkhuraisi said.

“Over the next 10 years, we expect 66 billion Saudi riyals [$17.60bn] in GDP [gross domestic product] contribution from this special economic zone in Riyadh and the creation of 29,000 jobs on a cumulative basis,” he said.

The new logistics zone is part of Saudi Arabia's wider plans to increase its cargo capacity to more than 4.5 million tonnes per year by 2030, up from 800,000 tonnes before the Covid-19 pandemic, increasing the contribution of the transport and logistics sector to national GDP to 10 per cent from 6 per cent currently, Gaca reported.

This will help to fuel business growth, attract inbound investment and increase the sector’s non-oil revenue to about 45 billion riyals a year by 2030, Gaca said in a statement.

Companies' activities in the new logistics zone in Riyadh will include manufacturing, distribution, repair and maintenance.

Saudi Arabia is also undertaking feasibility studies for additional Special Integrated Logistics Zones in Jeddah and Dammam, Mr Alkhuraisi said.

“The focus is on building a robust mode in Riyadh and then replicating it elsewhere,” he said.

“There will be positive spillovers for adjacent markets and the region.”

The new logistics zone in Riyadh aims to capitalise on Saudi Arabia's strategic location to help businesses serve customers in Africa, Asia and Europe.

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Director: Abdulrahman Sabbah 

Starring: Alaa Meqdad

Rating: 4/5

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Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

New Zealand squad

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Best Player: Cristiano Ronaldo (Juventus)
Best Coach: Gian Piero Gasperini (Atalanta)
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Best Women’s Player: Manuela Giugliano (Milan)
Best Women’s XI: Laura Giuliani (Milan); Alia Guagni (Fiorentina), Sara Gama (Juventus), Cecilia Salvai (Juventus), Elisa Bartoli (Roma); Aurora Galli (Juventus), Manuela Giugliano (Roma), Valentina Cernoia (Juventus); Valentina Giacinti (Milan), Ilaria Mauro (Fiorentina), Barbara Bonansea (Juventus)

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Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
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Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
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Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.

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UAE currency: the story behind the money in your pockets
UAE squad to face Ireland

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Opening day Premier League fixtures for August 9-11

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Liverpool v Norwich 11pm

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West Ham v Man City 3.30pm

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Burnley v Southampton 6pm

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Date started: March 2013

Founder: Hussam Hammo

Based: Amman, Jordan

Employees: 55

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Pakistan World Cup squad

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  • Torque: 760nm
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Updated: November 01, 2022, 8:06 AM`