Saudi port joins Maersk’s express shipping route in further boost for Kingdom’s logistics plan

In a sign of the growth of the facility, King Abdulaziz Port set a new container throughput record in June 2022, by handling 188,578 TEUs, surpassing the previous record of set in 2015. (Shutterstock)
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Updated 12 December 2022
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Saudi port joins Maersk’s express shipping route in further boost for Kingdom’s logistics plan

Riyadh: King Abdulaziz Port in Dammam is now part of container carrier giant Maersk’s express shipping service in a move that will boost trade between the Arabian Gulf and the Indian Subcontinent. 

The weekly service — known as Shaheen Express — links the port to major regional hubs such as Dubai’s Jebel Ali, India’s Mundra and Pipavav aboard container ship BIG DOG, which has a carrying capacity of 1,740 twenty-foot equivalent units. 

The announcement by the Saudi Ports Authority, also called Mawani, comes after several other shipping lanes chose Dammam as a port of call in 2022.  

These included SeaLead Shipping’s Far East to Middle East service, Emirates Shipping Line’s Jebel Ali Bahrain Shuwaikh (JBS), and Gulf-India Express 2 by Aladin Express. 

This is alongside the recent connection to Singapore and Shanghai ports on the Gulf China Service by Pacific International Lines. 

King Abdulaziz Port was declared the fourteenth most efficient port in the World Bank’s Container Port Performance Index for 2021, a historical achievement that stems from its state-of-the-art infrastructure, world-class operations, and record-breaking performance, according to the Saudi Press Agency.

In a sign of the growth of the facility, King Abdulaziz Port set a new container throughput record in June 2022, by handling 188,578 TEUs, surpassing the previous record of set in 2015. 

The record-breaking performance of the port was attributed to the rise in export and import volumes, as the Kingdom moves in line with the National Transport and Logistics Strategy aimed at turning Saudi Arabia into a global logistics hub.

 “The port’s strategic location on the Arabian Gulf lends it a distinct status as a trade gateway to the Kingdom’s eastern and central regions, which provides investors interested in setting up integrated logistics facilities that offer value-added services a competitive edge like no other,” said Mawani in the statement when the figures were released in September. 

Mawani is currently working on upgrading the 19 sq. km. port to make it capable of receiving giant vessels and handling up to 105 million tons annually. 


Global investors commit more than $3bn to King Salman Park as Saudi giga-project secures new deals

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Global investors commit more than $3bn to King Salman Park as Saudi giga-project secures new deals

RIYADH: The King Salman Park Foundation has secured more than $3.8 billion in new private-sector commitments at the MIPIM 2026 real estate conference, including a landmark $3 billion fund backed by international investors to develop a major mixed-use district in the heart of Riyadh.

According to a press release, the announcements bring total committed investment in the 17.2 sq. kilometers urban regeneration project to over $5.3 billion across five major packages.

Launched in 2019 under Saudi Vision 2030, the development is designed to be the world’s largest city park and aims to boost green space, improve quality of life, and feature over 1 million trees and extensive leisure facilities.

A $3 billion metro-connected district

The largest of the two packages, designated Package 5, will see a consortium led by Kolaghassi Development Co. deliver a residential-led district with a total built-up area exceeding 1 million sq. meters. 

It will provide approximately 3,700 residential units, a K–12 school, around 300 hospitality keys and more than 100,000 sq m of Grade A office space alongside a wide variety of retail and dining offerings.

The development is supported by a Saudi-domiciled, Capital Market Authority-regulated fund managed by Mulkia Investment Co. that has attracted leading investors from the Kingdom and across the world.

Kolaghassi Development Co. will lead the project alongside Al Othaim Investment, one of the Kingdom’s real estate players, and RXR, a New York-headquartered real estate investor and operator.

“Securing investment of this scale, supported by international capital and expertise, is an important milestone for King Salman Park,” said George Tanasijevich, CEO of King Salman Park Foundation. 

$850 million cultural district package

In a separate announcement, the Foundation confirmed the award of Package 4 to a consortium led by Retal Urban Development Co., with support from a fund managed by SAB Invest.

The project has a total value exceeding $850 million and will host more than 600 residential units, over 140 hotel keys, and almost 50,000 sq m of Grade A office space, alongside curated retail and food and beverage experiences.

“This opportunity reflects the maturity of Saudi Arabia’s real estate investment landscape and our confidence in culture-led, mixed-use urban destinations as a driver of sustainable returns,” said Abdullah Al-Braikan, CEO and founder of Retal Urban Development Co.

Ali Al-Mansour, CEO of SAB Invest, said the fund structure brings together “long-term capital, experienced development partners, and a shared commitment to place-making excellence” while contributing to Riyadh’s cultural vibrancy and the Kingdom’s quality-of-life ambitions under Vision 2030.