Saudi Arabia logistics boom: Rents jump 6.9% as trade shifts to Red Sea ports

Saudi Arabia's logistics sector is experiencing growth, with rents increasing by up to 6.9%, according to JLL. This rise is attributed to a shift in trade towards Red Sea ports, with industrial occupancy remaining above 90%.

A separate project, unrelated to the logistics growth, involves a €6 billion theme park near Paris, France, which will be developed in collaboration with Saudi Arabia. The theme park, inspired by the Dragon Ball Z franchise, is expected to create around 22,000 jobs. According to the Business Recorder, it will be built near Cergy-Pontoise, northwest of Paris, and will comprise three theme parks.

The theme park project is being led by Qiddiya, a subsidiary of Saudi Arabia's sovereign wealth fund. No opening date has been set for the development, which is expected to take several years to complete.

Brief written by urgent.news from Arabian Business, Quartz, Daily Times, Saudi Gazette Business, Business Recorder — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.