King Salman Airport, EW Partners explore SEZ plans

Snapshot of the agreement signing

EW Partners, the first private equity company to establish a Saudi-Asia cross-border investment platform, is collaborating with King Salman International Airport Development Co. (KSIADC) to explore plans for establishing a special economic zone (SEZ) at King Salman International Airport (KSIA) in Riyadh.

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In a statement picked up by Argaam, the company said the project shall cover an area of four square kilometers (km2) and will be developed in four phases over 12 years.

The planned SEZ is set to feature a logistics/light industrial zone, focusing on manufacturing and logistics services. This is bound to support the development of the local supply chain, while also enhancing the Kingdom's industrial capacity.

It shall also boast an international trade zone to become a hub for global companies to establish their wider presence, therefore facilitating foreign trade and attracting more foreign direct investments.

In addition, the project will encompass a residential area and supporting facilities.

It aims to establish an integrated ecosystem that includes global companies, logistics facilities, supply chains, and high-quality manufacturing, significantly enhancing the Kingdom's regional and global distribution capabilities.

Global companies will establish the zone’s manufacturing capacities and collaborate with Saudi companies for local content production and distribution to markets worldwide.

It is expected to attract more than 3,000 wholesale and retail players and around 200 light industrial manufacturers from China and Asia. Via this SEZ, these companies can explore possible expansion opportunities to other markets in the region and beyond.

The project, which aligns with Saudi Vision 2030, is scheduled to be launched by the end of 2025 and is expected to attract significant international investments, hence boosting the Kingdom’s economic diversification and sustainable development.

EW Partners will facilitate cooperation between the concerned governments, international investors, as well as Saudi and global companies, ensuring the project attracts players from the target sectors.

By leveraging the successful experiences of China's extensive network of free trade zones, EW Partners will actively work with major global companies to enhance industrial and commercial growth in Saudi Arabia. This shall in turn reflect positively on the Kingdom's competitiveness among global markets and support other economic initiatives.

According to data available on Argaam, Crown Prince Mohammed bin Salman launched KSIA’s masterplan in November 2022, to place Riyadh as a global core, stimulate transport, trade and tourism, and act as a bridge linking the East with the West. Accordingly, this shall consolidate the Kingdom's position as a global logistics hub.

KSIA is expected to be one of the world’s largest airports covering an area of nearly 57 km2, allowing for six parallel runways and including the existing terminals named after King Khalid. It will also include 12 km2 of airport support facilities, residential and recreational spaces, retail outlets, and other logistics facilities.