GulfBase Live Support
28/08/2014 00:48 AST
KING Abdullah Economic City (KAEC) recently announced a new land plot signing with Zad National Limited for the purchase of 22,000 sqm in KAEC’s Industrial Valley-phase1 to build a manufacturing facility for the production of various types of sweets. The contract was signed by Prince Abdullah bin Saud bin Mohammed bin Abdulaziz, Chairman of the Board of Al-Ahlam Holding Group and ZAD National Company, and Rayan Qutub, COO of the Industrial Valley in KAEC.
Prince Abdullah said the new industrial establishment for Zad National will manufacture traditional Turkish sweets and coffee as well as producing various types of chocolate, oriental and western desserts under the internationally known MADO brand. "We are looking forward to start the construction of the plant as soon as possible to expand our business and strengthen our partnership with MADO in order to provide local consumers and export to neighboring countries with high quality products,” he added.
Fahd Al-Rasheed, Managing Director and CEO of KAEC, said: “The investments demand in the city is experiencing a noticeable increase and we are receiving special attention from local investors, which reinforces KAEC’s socio-economic role and strengthens our commitment to providing employment opportunities for the next generation of national cadres and housing solutions with comprehensive integrated public services." logistics services in the region."
Qutub said: “Investors fully recognize that KAEC is a major center for manufacturing and logistics services in the region due to the advanced infrastructure and its close proximity to King Abdullah Port, the Haramain Railway and the Saudi land bridge, which makes it the ideal distribution network accessing the largest market in the region.”
MADO is known for its diverse range of products that include delicious pastries, desserts, ice cream and sahlep, a traditional Turkish drink made from wild orchids. The first MADO cafe opened 1992 in Istanbul specializing in ice cream, desserts served with ice cream, and high quality coffees. There are 10 MADO cafes in Dubai, Saudi Arabia, Cyprus, Australia, Hong Kong, South Korea and Bulgaria.
Saudi Gazette
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
STC | 83.41 | 257,644 |
DARALARKAN | 13.47 | 74,648,349 |
05/04/2018
Saudi Arabia's Public Investment Fund (PIF) has signed an agreement with Six Flags to develop and design an amusement park in Riyadh. Six Flags, the world’s leading international amusement park compa
Arab News
05/04/2018
In an exclusive interview with Arab News, Turki Mohammed Al-Shehri explains how an expanding renewables industry will boost employment as well as pave the way for a greener future.
A massiv
Arab News
05/04/2018
Dubai’s residential property market continued to soften in the first three months of this year, in line with analysts’ forecasts, with rental values recording a more pronounced fall than sales prices
The National
05/04/2018
Buoyed by a strong oil price of $70 per barrel, Saudi Arabia’s Tadawul shot up by over 6 per cent in March 2018, according to Kuwait Financial Centre’s (Markaz’s) recently released Monthly Markets Re
Times of Oman
05/04/2018
Qatar banks’ combined credit facilities to real estate sector rose by QR17bn to QR147.7bn in 2017. The banks’ credit to various sectors stood at QR911bn at the end of 2017, up from QR839bn recorded i
The Peninsula