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FINANCIAL NEWS
Saudi Al Azizia Panda plans USD106m retail center at KAEC
17 Dec 2012
(MENAFN) Saudi retailer Al Azizia Panda is set to construct a USD106.5 million retail distribution center at King Abdullah Economic City (KAEC), Saudi Gazette reported.
Panda, in which the Savola Group owns 74.4 percent, will establish the center on a land area covering 200,000 square meters in Zone B of the first phase of KAEC’s Industrial Valley.
The center will be part of the integrated industries at KAEC in Rabigh and will enhance the logistical capabilities of the company reflecting positively on the sales and distribution activities for Panda.
The Savola Group Managing Director Dr. Abdulraouf Mannaa said that Al Azizia Panda seeks to benefit from the services and infrastructure provided by KAEC and the Industrial Valley including the advanced transportation facilities mainly Al Haramain Train and highways network which represent a high strategic value for the retail distribution center.
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