Riyadh – Mubasher: Saudi Logistics Services Company (SAL) and Sela inked a deal to develop the SAL Logistics Zone in Falcon City, with SAR 4 billion investments.
Spanning 1.50 million square metres, the joint project aims to support the logistics sector and enhance Saudi Arabia’s position as a global logistics hub in line with Vision 2030, according to a press release.
The project aims to enhance supply chain efficiency, lower operational costs, and attract major global companies to invest in Saudi Arabia’s logistics sector.
It will also boost the competitiveness of the industry by providing a fully integrated business ecosystem that meets international standards, fostering economic growth, investment opportunities, and job creation in the logistics sector.
Omar bin Talal Hariri, CEO of SAL, highlighted that the initiative backs SAL’s commitment to driving sustainability, environmental responsibility, and enhancing supply chain management.
Rakan Al Harthi, Managing Director of Sela, stated: “Our partnership with SAL Logistics Services will establish world-class logistics facilities, catering to the needs of local and international businesses while ensuring seamless business operations and investment flows.”
As of 31 December 2024, SAL posted 29.77% higher net profits at SAR 3.32 billion, compared to SAR 3.65 billion in 2023.
