Israeli shipping firm’s warehouse of luxury cars in California gets new lease
A shipping company that operates warehouses for luxury cars from California to Israel will lease space from a company that has leased space for luxury goods from Europe and the United States.
A senior Israeli shipping company, Al-Tibetan, has been leasing space at a warehouse in Alameda, California, to a firm owned by a Saudi Arabian company that specializes in luxury goods.
Al-Khalili, which operates warehouses at the port of Alameda and at the border with Jordan, said Thursday it had signed a new lease agreement with the company that owns the warehouse in California.
A spokesman for Al-Kuwaiti, which owns the company and has leased storage space in Al-Khaleej, Saudi Arabia, said the new lease would start in the second half of the year and would include a new building for Al Kuban.
The Al Kubans leasing company said in a statement that it is interested in the new space, and is working with Al-Saud to finalize the lease.
Al-Kuwanis chief executive officer Mohamed Khalili said the company is interested “in finding a solution for the supply chain issues between Al Kubani and Al-Saudi Arabia.”
Al-Khadili said that the new agreement with Al Kubain would include an increase in the number of storage spaces for Al Kuwaiti cars, which is the largest car producer in the Middle East.
Al Kuban has about 500,000 vehicles on its shelves and has been growing rapidly in recent years, according to its latest annual report.
The company said it was leasing space from Al Kuwaita’s shipping operations at the ports of Al Khaleeji and Al Khaledi in the Saudi Arabia-Israel border area.
The Saudi-Israeli border was closed to all imports for about a year, allowing shipments to pass through the ports, but the temporary closure led to the closure of the entire border crossing, a move that delayed Al-khadili’s expansion plans in the region.
The move to allow all shipments through Al Khaldis shipping terminal came at a time when Al-Naimi’s fleet of luxury car factories was suffering from supply disruptions.
The cars were being exported to the United Arab Emirates, where they were sold to European luxury brands, and to other countries.