Riyadh – Mubasher: A Saudi investor alliance signed a deal in Djibouti to develop the Saudi Logistics City free zone project at Djibouti Port, the largest such contract abroad.

The initial phase covers 120,000 square meters with the 92-year contract including permanent exhibition space, an area promoting Saudi industries and a trade exchange with facilities and warehouses, according to the Saudi Press Agency (SPA).

The logistics city will enable Saudi products and exports to reach all African markets through the Djibouti Port.

The deal results from cooperation between Djibouti and the Federation of Saudi Chambers delegation led by Chairman Hassan Moejeb Al Hwaizy comprising over 100 businesses and government officials.

The delegation held the Saudi-Djibouti Business Forum with over 300 ministers, officials, and owners reviewing investment opportunities in Djibouti's free zones and incentives for investors.

Djibouti authorities pledged Saudi investors would receive the same treatment as local counterparts, highlighting prospects in renewable power, tourism, agriculture, and technology.