Media Centre

King Abdullah Economic City (KAEC) has signed a lease contract with National Paints for 53,472sqm of land in the city’s Industrial Valley. National Paints will use the land to build a comprehensive production facility for all types of emulsion.

“National Paint’s status as the leading emulsion manufacturer in the Middle East, and as one of Europe’s biggest producers, adds to the significant reputation and standing of investments in the Industrial Valley,” said Mr. Fahd Al-Rasheed, Group Chief Executive Officer and Managing Director of KAEC. “The city has become the launch point of choice for major global corporations to reach regional and international markets. The city presents an ideal investment environment with modern, state-of-the-art facilities and services that tenants need to grow and nourish their investments.”

KAEC is making strong progress in its expansion plans and attracting a wide range of top-tier investments, fast becoming the environment of choice for investors and residents.

“National Paints specializes in quality domestic and industrial emulsions that target projects both within KAEC and throughout the Kingdom. We investigated thoroughly and concluded that KAEC’s range of business solutions made it the best possible place to meet our clients’ requirements and put into action our strategic plans to grow and develop in the Saudi market,” said Mr. Michael Sayegh, Chairman of Sayegh group, National Paint’s holding company.

KAEC is continuing to expand the size of the Industrial Valley on order to increase the amount of land available for sale or for leasing, which confirms the widespread trust that the Economic City has earned.

“National Paints joins a burgeoning construction materials sector here at the Industrial Valley,” said Mr. Rayan Qutub, CEO of the Industrial Valley. “The company will add a significant contribution to the national and regional construction sectors by providing high-quality locally-produced emulsions to both government and private sector projects. The Industrial Valley provides unprecedented access to over 250 million consumers in the Middle East, and North and East Africa, making it a strategic venue from which to expand into the region.”