US-based toy retailer Toys “R” Us has signed a development lease contract with King Abdullah Economic City (KAEC) to build a distribution centre that will be the hub for its expansion plan in Saudi Arabia. The distribution centre will be built on a 376,000 sqft plot in Phase 1B of the KAEC Industrial Valley.
“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,” says Omar Bakkar, general manager of Toys “R” Us.
“Toys “R” Us joins 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,” says Ahmed Linjawy, president of Industry and City Services in KAEC.
“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, 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,” adds Linjawy.