Page 14 - Baker Hughes - JANUARY 2024

1/10/24, 9:57 AM Sparking interest
How many tenants has SPARK attracted to date?

SPARK is proud to have attracted over 50 tenants to date, operating in sectors that range from digital, manufacturing,

upstream, non-metallics and other commercial and industrial sectors. Some of these tenants include Honeywell, Baker
Hughes, Emerson, Schlumberger, Taqa, SeAH-Dussur and others.

A number of industrial facilities are under construction at the energy hub.

Contributing to Saudi Arabia’s Vision 2030, SPARK supports the kingdom’s drive for a diversified economy and aims to
foster a dynamic international industrial community rooted in excellence and innovation. SPARK is expected to contribute
over $6 billion to the kingdom’s GDP annually and create up to 100,000 direct and indirect jobs upon maturity.

SPARK is unique. It positions its investors at the heart of the energy market and offers an unparalleled platform equipped with
top-tier, ready-to-use infrastructure and services that accelerate the industrial localisation and helps deliver sustainable value
to our communities. This reinforces SPARK’s position as a leading industrial energy hub, bridging global energy

organisations’ access to the Saudi energy sector and beyond.

How many new investors has SPARK attracted over the past year? Which of them have started construction?

SPARK has attracted over 20 new investments in 2023 and we see an acceleration in the number of investments year after

year. These developments represent investments of over $1 billion in 2023 alone and an accumulative investment to date of
more than $3 billion once all the concluded agreements are executed. Construction has also begun on 20 manufacturing
centres and more will come in the year ahead.

What are the incentives offered/attractions for investors to set up operations at SPARK?

Numerous incentives and attractions for investors looking to establish operations are at play within SPARK. Its strategic
location in Saudi Arabia’s Eastern Province allows for strong connections with the growing regional energy ecosystem which
places investors at the heart of the energy market, with top-tier infrastructure and services. Investors are presented with the

https://gulfconstructiononline.com/Article/1627974/Sparking_interest 4/7