A new logistics zone will be built over an area of 1,000,000sqm
Saudi Arabia’s LogiPoint recently signed an MoU with Madina’s ALMQR Development Company to develop the Kingdom’s latest Logistics Zone and usher in a new era of pioneering Logistics Real Estate Development in the Kingdom.
Held under the patronage of HRH Prince Faisal Bin Salman Bin Abdulaziz Al Saud, Governor of Madinah Province, the two organizations signed a strategic partnership to build the first fully integrated Logistics Zone with world class logistics infrastructure in the Madina Province.
HE Fahad Mohammad AlBelahshi , Mayor of Madina Municipality, was also present at the MoU signing.
The Logistics Zone will be built over an area of 1,000,000sqm and will provide a boost to the business growth of the Madina region. The development of such enabling logistics platforms comes in line with the National Strategy for transport and logistics services under the Vision 2030.
Over the past two decades, LogiPoint has established itself as the Kingdom’s premier developer and operator of Logistics Zones and Parks and developing the Logistics Zone in Madinah Al Munawarrah will be a part of its expansion strategy in the Kingdom.
ALMQR Development Company was founded by a Royal Decree to represent the Municipality of Madina and considered as the investment arm of the Municipality.
Want to stay updated on the latest industry news and trends? Subscribe today to receive your monthly news highlights directly in your inbox!