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Saudi Arabia Develops a Global Integrated Logistics Park

Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce officials signing the agreement (Asharq Al-Awsat)
Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce officials signing the agreement (Asharq Al-Awsat)
    Jeddah – Asharq Al-Awsat
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Saudi Arabia Develops a Global Integrated Logistics Park

Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce officials signing the agreement (Asharq Al-Awsat)
Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce officials signing the agreement (Asharq Al-Awsat)

Saudi Arabia aims to develop a global integrated logistics park in the al-Khumrah region, west of the Kingdom.

The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce signed an agreement to set up a $267.6 million integrated logistics park at al-Khumrah, south of Jeddah, to boost economic development, national investments, and partnership with the private sector.

Two weeks ago, Mawani and Maersk began construction on Saudi Arabia's largest Integrated Logistics Park at Jeddah Islamic Port, with investments amounting to $346.6 million, providing more than 2,500 direct and indirect job opportunities.

The new region directly achieves Mawani's strategic objectives as the main link in the system, in line with the goals of the National Transport and Logistics Strategy, by establishing the Kingdom's position as a global logistics hub.

The park is also linked to the National Industrial Development and Logistics Program (NIDLP), and al-Khumra is one of the pioneering areas targeted for development as a global logistics region.

It aims to increase the optimal utilization of Mawani's assets and achieve diversification by providing more than 10,000 new direct and indirect jobs in the logistics sector through business and investments.

The 3-km logistics park comprises three zones: shared warehouses, medium-sized storage yards and single warehouses, and large storage yards and on-demand warehouses.

The various zones will meet the requirements of importers and exporters of stocking multipurpose cargo, chilled and frozen goods, food commodities, and fragile goods.

The park offers move-in-ready warehouses, storage yards, re-export zones, custom storage, logistics amenities, commercial units, residential units, staff accommodation, state-of-the-art infrastructure like roads and green spaces, and other essential services.

Meanwhile, Cruise Saudi, wholly owned by the Public Investment Fund (PIF), welcomed nearly 9,000 tourists from five European countries to celebrate Saudi Founding Day.

The 8,800 tourists visited key Saudi destinations through three cruise ship calls in Jeddah Islamic Port and King Abdulaziz Port in Dammam.

Tourists were welcomed at the passengers' terminal with Founding Day traditional activities, including cultural gifts, Saudi coffee, dates, and folklore dances, in collaboration with all relevant authorities and local partners.

The tourists, representing different nationalities, namely English, Spanish, Italian, French, and Russian, witnessed and engaged in the vibrant Saudi Founding Day festivities in their various expeditions in both Jeddah and the Eastern Province through Dammam Port.

The activities included a flight to visit AlUla, Saudi's first UNESCO World Heritage site, an enjoyable walk at Jeddah's Waterfront, and a journey back in time through centuries of culture and traditions by visiting the UNESCO World Heritage site of Jeddah Historical District, filled with vibrant artwork, exotic scents, traditional markets, and authentic Hijazi architecture unique to the region.

They could also tour al-Ahsa Oasis, Saudi's third UNESCO World Heritage site accessible via cruising, exploring the Qara Mountain, Princes' School, and al-Qaisariyah Souq.

The ongoing cruising season of Cruise Saudi, from November 2022 until May 2023, is set to welcome over 75 scheduled calls by ships from several global cruise lines sailing the Red Sea and Arabian Gulf.

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Business

IMF Upgrades Outlook for Surprisingly Resilient World Economy to 3.3% Growth this Year

FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo/File Photo
FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo/File Photo
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IMF Upgrades Outlook for Surprisingly Resilient World Economy to 3.3% Growth this Year

FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo/File Photo
FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo/File Photo

An unexpectedly sturdy world economy is likely to shrug off President Donald Trump's protectionist trade policies this year, thanks partly to a surge of investment in artificial intelligence in North America and Asia, the International Monetary Fund said in a report out Monday.

The 191-nation lending organization expects that global growth will come in at 3.3% this year, same as in 2025 but up from the 3.1% it had forecast for 2026 back in October, The Associated Press reported.

The world economy "continues to show notable resilience despite significant US-led trade disruptions and heightened uncertainty,'' IMF chief economist Pierre-Olivier Gourinchas and his colleague Tobias Adrian wrote in a blog post accompanying the latest update to the fund's World Economic Outlook.

The US economy, benefiting from the strongest pace of technology investment since 2001, is forecast to expand 2.4% this year, an upgrade on the fund's October forecast and on expected 2025 growth — both 2.1%.

China — the world's second-largest economy — is forecast to see 4.5% growth, an improvement on the 4.2% the IMF had predicted October, partly because a trade truce with the United States has reduced American tariffs on Chinese exports.

India, which has supplanted China as the world's fastest-growing major economy, is expected to see growth decelerate from 7.3% last year (when it was juiced by an unexpectedly strong second half) to a still-healthy 6.4% in 2026.

Business

France Says Still Loyal to Syria Kurds, Hails Ceasefire

Syrian army personnel celebrate as government forces enter Raqqa city following the withdrawal of Syrian Democratic Forces, in Raqqa, Syria, January 18, 2026. REUTERS/Karam al-Masri
Syrian army personnel celebrate as government forces enter Raqqa city following the withdrawal of Syrian Democratic Forces, in Raqqa, Syria, January 18, 2026. REUTERS/Karam al-Masri
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France Says Still Loyal to Syria Kurds, Hails Ceasefire

Syrian army personnel celebrate as government forces enter Raqqa city following the withdrawal of Syrian Democratic Forces, in Raqqa, Syria, January 18, 2026. REUTERS/Karam al-Masri
Syrian army personnel celebrate as government forces enter Raqqa city following the withdrawal of Syrian Democratic Forces, in Raqqa, Syria, January 18, 2026. REUTERS/Karam al-Masri

France on Monday welcomed a ceasefire between the Syrian government and Kurdish-led forces and stressed it remained loyal to the latter who spearheaded the battle against the ISIS group.

"France is faithful to its allies," the foreign ministry said, urging all sides to respect the ceasefire deal, which will also see the Kurdish administration and forces integrate into the state after months of stalled negotiations.

Business

Lucid in 2026: 'Made in Saudi Arabia' Label Goes Global

Mark Winterhoff, interim CEO of Lucid (Company) 
Mark Winterhoff, interim CEO of Lucid (Company) 
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Lucid in 2026: 'Made in Saudi Arabia' Label Goes Global

Mark Winterhoff, interim CEO of Lucid (Company) 
Mark Winterhoff, interim CEO of Lucid (Company) 

Saudi Arabia is positioning itself as a global launchpad for Lucid, the electric-vehicle manufacturer, not merely as a consumer market, but as a manufacturing and export hub serving markets worldwide.

Speaking from Riyadh during his participation in the Future Minerals Forum, Mark Winterhoff, interim chief executive officer of Lucid — whose largest shareholder is Saudi Arabia’s Public Investment Fund (PIF) — outlined the company’s next phase, which focuses on disciplined expansion, resilient supply chains, and a strategic shift from ultra-luxury vehicles toward a broader consumer segment.

In remarks to Asharq Al-Awsat, Winterhoff described the forum as a critical platform for the electric-vehicle industry, given its heavy reliance on minerals and rare earth elements, particularly those used in magnets. He praised Saudi Arabia’s leadership in this area, noting its direct impact on multiple industrial sectors. Winterhoff oversees the execution of Lucid’s strategy and leads teams responsible for product design, engineering, and manufacturing efficiency.

Saudi Arabia as an Export Base

Winterhoff said Lucid’s Saudi factory - the company’s first manufacturing facility outside the United States - was designed from the outset as a major export platform, not solely to meet domestic demand.

Under current plans, only 13 to 15 percent of production will be allocated to Gulf Cooperation Council (GCC) markets, with the majority destined for export. He confirmed that Lucid remains on track to begin production at the facility by the end of this year, specifically in December.

In January 2025, Lucid joined the “Made in Saudi Arabia” program, enabling it to use the national manufacturing label on vehicles produced locally. The company is the first automotive original equipment manufacturer (OEM) to receive the designation, reflecting Saudi Arabia’s push to localize advanced industries, deepen partnerships with global manufacturers, and establish itself as a hub for electric-vehicle production and exports.

Strong Growth Momentum

Winterhoff said Lucid posted strong growth in both production and deliveries in 2025. Annual production more than doubled, while deliveries rose 55 percent year-on-year. The fourth quarter recorded particularly strong results in the United States and the Middle East, especially Saudi Arabia.

He noted that Lucid was the only electric-vehicle manufacturer in the US to report higher deliveries in the fourth quarter of 2025, at a time when many competitors saw sharp declines.

According to company figures, Lucid produced about 18,378 vehicles in 2025, up 104 percent from 2024, while deliveries reached 15,841 vehicles. In the fourth quarter alone, production climbed to 8,412 vehicles — up 116 percent from the previous quarter — while deliveries rose 31 percent to 5,345 vehicles.

While Lucid currently operates in the luxury segment, its most significant strategic shift involves developing a mid-size vehicle priced at around $50,000. Winterhoff said this model, aimed at a much wider consumer base, will form the backbone of production at the Saudi plant and enable the facility to reach its targeted maximum capacity.

Supply Chain Challenges and Outlook

Winterhoff identified supply chains - particularly for minerals, rare earth elements, and semiconductors - as ongoing challenges for the industry. He said Lucid faced repeated difficulties over the past year in sourcing magnets and securing stable semiconductor supplies. Forums such as the Future Minerals Forum, he added, are part of the solution, helping build a more stable and sustainable resource ecosystem.

Looking ahead, Winterhoff expressed confidence in Lucid’s trajectory. The company currently leads US electric-vehicle sales in the luxury sedan segment and ranks third when internal combustion vehicles are included. With the launch of its mid-priced model, Lucid expects higher production volumes and, in 2026, plans to enter the autonomous robotaxi market, an emerging sector it views as a key source of future growth.