Spark to get a plug-and-play factory, Asmo eyes build out, doors open at Amaala

Pan Kingdom Real Estate secured a contract to develop a plug-and-play factory complex at King Salman Energy Park (Spark), according to a press release. The complex will span 214k sqm and include 168 ready-built facilities targeting the energy sector. The agreement’s value and project timeline weren’t disclosed.

Why it matters: The plug-and-play model offers a fast-track solution for local and international firms to set up in Saudi Arabia as tenders become increasingly tied to localization requirements. India-based Man Industries paid USD 102 mn to solve that problem last month by acquiring Saudi Arabia’s National Pipe Company because the firm was “no longer eligible for many tenders” without a local presence, MD Nikhil Manuskhani told us.

Asmo eyes expansion

Asmo Logistics — the Aramco-DHL JV — will open two new facilities in Jubail and a second undisclosed location over the next two years, Asmo CEO Nico Schutz told the Arabic press (watch, runtime: 4:30). The company currently operates four sites in the Kingdom.

Lots in the works for Asmo: The company is also finalizing a logistics hub at King Salman Energy Park, building a central pipe yard in the Eastern Province, developing a facility in Jazan, and expanding a warehouse near Riyadh. Asmo also plans to offer inventory financing services to clients, following an MoU signed with JPMorgan last year — with details currently being finalised.

Amaala is here

PIF-owned Red Sea Global (RSG) just launched The Four Seasons Resort and Residences Amaala at Triple Bay, the first phase of its Amaala ultra-luxury wellness destination on the west coast, according to a press release. The resort includes 202 rooms and 26 private villas, along with a 2.1k sqm wellness and spa center.

BACKGROUND- RSG secured an SAR 6.5 bn credit facility last year to fund the development. Amaala is set to include eight resorts and branded residences, with rollout slated for this year.