Riyadh: Under the patronage of Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz, King Salman Energy Park (SPARK) has entered into an agreement with Pan Kingdom Real Estate, a subsidiary of Pan Kingdom Holding Group, to develop a complex of ready-built energy-related industrial facilities at SPARK.
According to Saudi Press Agency, this initiative is part of the broader strategy to enhance local content, bolster energy supply chains, and promote the localization of energy-related products and services. It aligns with Saudi Vision 2030's goals of increasing the energy sector's contribution to the national economy.
The development will feature ready-built specialized industrial facilities intended to attract global manufacturers and suppliers, facilitating efficient and cost-effective establishment and operation. These facilities will offer flexible industrial solutions that aid in the localization of components and services, speeding up the operational readiness of companies in the energy sector.
Pan Kingdom Real Estate is set to develop an integrated industrial complex with 168 ready-built industrial units spanning 214,000 square meters. These units will meet the needs of companies in the energy sector and associated supply chains, providing advanced industrial facilities along with supportive infrastructure built to the highest standards. This will enhance SPARK's investment environment and improve the operational efficiency of energy companies.
SPARK stands as one of the premier industrial cities globally, devoted to the energy sector. It offers a comprehensive ecosystem of infrastructure, logistics services, and investment solutions that facilitate business growth and promote the localization of high-value industries and services.
The strategic location of the project, near major ports, airports, and key transportation networks, will enhance supply chain efficiency and logistics capabilities. It will improve access to energy markets within Saudi Arabia and the wider region for both local and international companies.
This project also supports the Ministry of Energy's Nuwatin initiative, which aims to increase local content by providing integrated industrial infrastructure for local and international companies. The initiative encourages the growth of energy-related industries, expands the domestic supplier base, creates new investment opportunities, and bolsters the national economy, contributing to the sector's objectives.