Construction boom drives demand for heavy equipment in Saudi Arabia
Saudi Arabia’s booming real estate sector and growth in commercial infrastructural initiatives is fueling increased demand for heavy construction machinery and material handling equipment in the Kingdom. Industry journal Construct Arabia reports that Saudi Arabia’s construction market is expected to grow at an average of 32-35% per year, while Euromonitor forecasts that demand for lifting and material handling equipment alone will grow by 54% by 2018.
With $195.4 billion worth of construction planned in Saudi Arabia over the next three years, Abdul Latif Jameel is uniquely positioned to deliver on this opportunity:
Toyota Industrial Equipment
Abdul Latif Jameel has been an authorized distributor for Toyota Industrial Equipment and spare parts in the Kingdom for the past 25 years, with a product portfolio that includes petrol, diesel, and electric forklift trucks and towing tractors.
Komatsu Construction and Mining Equipment
In early 2014, Abdul Latif Jameel formed a joint venture with Sumitomo Corporation of Japan for the Saudi Arabia trading rights for Komatsu, a major heavy equipment brand with a product line-up that includes wheel loaders, excavators, bulldozers, motor graders, dump trucks and pipe layers.
In September 2014, the company announced plans to build and operate a state-of-the-art facility in Jeddah to provide easy access to customers as well as best-in-class services in the heavy equipment sector. Located close to the Harmain Road, the facility will boast a comprehensive layout including a guest reception area, parts counter and warehouse, multiple workshop bays, a component rebuild area, training center and equipment test area.
As part of its network expansion strategy, Abdul Latif Jameel Heavy Equipment has announced plans to build modern facilities in further locations in Saudi Arabia, including Riyadh, Dammam and Abha.
The Jeddah and Riyadh facilities, due to begin operations towards the end of 2015, are designed to ensure optimal productivity, workflow efficiency, and increased flexibility, while giving young Saudi talent the opportunity to experience and be part of a highly specialized work environment.
Contributing to the continuous development of Saudi Arabia and the region, Abdul Latif Jameel Heavy Equipment provides world-class construction equipment and specialist training and servicing as well as Sharia-compliant financing.
For more information about our new facility in Jeddah, please read the full press release here.
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