Saudi Arabia’s LogiPoint has awarded a $18.5 million contract to Sahara Building Contractors for the construction of its multi-purpose warehouse complex, Warehouse Village V, at Jeddah Islamic Port, it has been announced.
In a statement, LogiPoint said that the new facility will be built on a 24,500-sq-m area within the group’s flagship logistics park – the Bonded and Re-Export Zone in Jeddah – with dedicated zones for handling frozen, chilled, ambient and dry cargoes.
The Bonded and Re-Export zone is a 1 million sqm fully integrated logistics platform dedicated to facilitating trade and development in the kingdom by enabling the supply chain and logistics industry and by creating value through investments in innovative, next generation solutions and state-of-the-art logistics infrastructure, the statement explained.
LogiPoint is an internationally recognised and award-winning logistics real estate company and is regarded as the Kingdom’s premier developer and creator of transformative logistics parks and zones, the statement added.
Warehousing Village V also introduces a LogiPoint first with a dedicated zone designed and equipped to handle pharmaceutical goods inside Jeddah Islamic Port, it said.
Additionally, the Value Addition Zone will enable LogiPoint to extend their time tested and much in demand value added services to their clients allowing them to act as a truly transformative logistics hub for the region.
LogiPoint warehousing facilities are currently operating at over 100% utilisation, making Village V a welcome addition, said a senior official.
“We believe the company’s mission of enabling logistics and facilitating trade and economic growth by acting as a stakeholder in the kingdom’s growth has become more pertinent than ever before,” remarked its CEO Farooq Shaikh.
LogiPoint’s investments into infrastructure projects carry a multiplier effect for the kingdom’s economy because of the multiple new investments these projects attract to the Kingdom.
“Village 5 is going to be our most sophisticated addition yet to LogiPoint’s warehousing infrastructure inside Jeddah Islamic Port. The importance and relevance of a facility that is designed to receive, handle, store and distribute pharmaceutical goods can scarcely be overstated today,” he noted.
“At the same time, the addition of a multi-purpose state-of-the-art warehousing facility at LogiPoint BRZ reinforces Jeddah as an integrated logistics hub internationally and demonstrates just how well we are aligned with the Vision 2030’s goal to make the Kingdom a regional logistics hub of choice. Village 5 is start of the expansion plans that is expected to increase LogiPoint BRZ’s warehousing capacity by about 150% during next 2-3 years,” he added.
Warehousing Village V has been designed by Jamjoom Consulting in line with international logistics infrastructure specifications and incorporates the latest green building technologies to ensure compliance with environmental standards.
The facility will rely on renewable resources for power generation and has been designed to conserve energy through eliminating waste and using low consumption LED lighting system, he concluded.