5 Hrs
Source:
الاقتصادية
Jeddah logistics city receives 650M fund
Saudi Arabia has launched an investment fund worth 650 million riyals to develop a logistics city in Jeddah Governorate. The goal is to enhance the supply of land and logistics services and to support Jeddah's position as a regional logistics hub. The project is expected to add about 5% to Jeddah's warehouse market, which experienced a peak occupancy rate of 97% in 2024, with an annual growth rate of 4.8%. The development of the city aims to meet the increasing demand for logistics spaces and services, with infrastructure works expected to be completed within 12-18 months. This initiative is supported by the expansion of Jeddah Port and the launch of the world's largest truck bypass area, both recently inaugurated, which collectively enhance operational efficiency and facilitate smoother trade flows in the region.
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