Alshaya International Trading Co. is set to establish a logistics hub at King Abdullah Economic City (KAEC), according to a press release last week.

KAEC and Alshaya signed a contract over the leasing of 91,000 square meters of land in the Industrial Valley, where Alshaya’s new logistics hub is scheduled to be built.

KAEC representatives welcomed the move, stating it would further expand KAEC’s role as a premium destination for capital investment.

Alshaya, a retail franchise business, namely Starbucks, H&M and Victoria’s Secret, and runs over 800 stores in Saudi Arabia with plans to add another 150 over the next year.