Market Trends of Dammam Industrial Construction Industry
Development of Manufacturing Hubs Dominating the Market
Dubai-headquartered Immensa, one of the leaders in Additive Manufacturing and Digital Warehouses for the MENA region, has opened a new facility at Dammam, Saudi Arabia, as part of its ambitious plans to expand into other parts of the world.
The USD 15 million facility, the first private sector industrial-grade additive manufacturing center in the Kingdom, is expected to change the production process from traditional, low-value products to high-value products using conventional production methods.
In November 2023, Anil Agarwal-led Vedanta plans to set up a one lakh tonne continuous copper rod plant in Saudi Arabia through its subsidiary Malco Energy, which has floated a new company, Vedanta Copper International VCI Company Limited.
The proposed plant in Dammam will be able to meet the growing customer demand for excellent-quality wire rods. This new venture is intended to meet the evolving market needs and, in line with the Kingdom 2030 strategy of diversification and support for domestic production and industrial development, it wants to do so.
The Saudi Ports Authority, Mawani, and Saudi Global Ports (SGP), a joint venture between the Saudi Public Investment Fund (PIF), Singapore’s PSA International Company, and Al Balagaa Group, inked an agreement to develop a fully integrated logistics park, spanning over one million square meters at King Abdulaziz Port in Dammam, with an investment nearing USD 266 million (SAR1 billion).
Development of Sustainable Warehouse Infrastructure Fuels Growth
Saudi Global Ports (SGP) and Saudi Ports Authority (Mawani) signed an agreement to establish a 1 million square meters integrated logistics zone at King Abdulaziz Port Dammam (KAPD). Under the agreement, SGP is slated to invest about SAR 1 billion (USD 267 million) to develop the integrated logistics zone and is studying the options for bonded warehouses and modern cold store capabilities. There are also plans to incorporate sustainability elements such as hybrid and electric equipment and solar panels into the development.
Public warehouses account for 60%, followed by dedicated warehouse facilities at 25% and private warehouses at 15%. The largest share, 70%, is held by major cities such as Jeddah, Riyadh, and Dammam due to the increasing demand in emerging industrial areas.
To evaluate ways of strengthening the Saudi health sector by importing cutting-edge medical technology and services while promoting new job creation and knowledge transfer, Agility has entered into a Memorandum of Understanding with the Ministry of Investment in Saudi Arabia.
Agility and MISA will explore four areas of collaboration in the healthcare sector under this agreement. This also includes extending digital health service, localizing supply chains for innovative new medical technologies, supporting Agility's technology partners in establishing regional offices to attract Saudi talent and promoting the transfer of relevant healthcare knowledge.
