GFH Financial Group, a financial institution with a strong focus on the logistics sector, has signed a heads of terms agreement with Gulf Warehousing Company, one of the GCC’s top logistics providers. The collaboration will see GFH power GWC’s expansion plans by developing 200,000 square meters of Grade “A” logistics facilities across key locations in Saudi Arabia, including Riyadh, Jeddah and Dammam.
As part of the heads of terms, GFH will finance and oversee the development of these state-of-the-art logistics spaces, tailored to meet GWC’s specific operational requirements. GWC will lead the technical development of these facilities while being the anchor tenant once completed. GWC will leverage its expertise in logistics and supply chain solutions to ensure the facilities are optimized to serve the clients’ needs. This signing is part of GFH’s ongoing commitment to strengthening Saudi Arabia’s logistics infrastructure, which aligns with the Kingdom’s Vision 2030 objectives to diversify the economy and establish the country as a global logistics hub.
Our collaboration with GWC marks a significant step in advancing Saudi Arabia’s logistics infrastructure, says Razi Almerbati, Chief Executive of GFH Capital
Razi Almerbati, chief executive of GFH Capital, said: “Our collaboration with GWC marks a significant step in advancing Saudi Arabia’s logistics infrastructure. By combining GFH’s financial strength and focus on the logistics sector with GWC’s logistics prowess, we are confident this development will further cement Saudi Arabia’s position as a logistics leader in the region.”
Matthew Kearns, deputy CEO at GWC, said: “This heads of terms with GFH will open the horizon to tailored supply chain solutions that meet the increasing demand for high quality logistics solutions in the Kingdom of Saudi Arabia, further supporting the Kingdom’s Vision 2030. GWC is proud to deploy its logistics and supply chain expertise, offering world-class logistics solutions for clientele across the Kingdom.”
The heads of terms state that GWC will be responsible for operating the logistics facilities to serve its expanding client base across the Kingdom, incorporating cutting-edge technologies, highest sustainability standards and optimal operational infrastructure to meet the highest industry standards. The facilities will provide GWC with the capacity to manage and optimize its logistics operations efficiently, supporting the company’s growth and enhancing the country’s logistics capabilities.
