Hempel, the global supplier of marine, protective and decorative coatings, plans to move its entire production unit in Saudi Arabia to its new plant in Jeddah’s second industrial city as part of a strategy aimed at meeting the needs of its Saudi customers.

Inaugurated two years ago, the factory in Jeddah is Hempel’s first 100 per cent water-based production factory in the Middle East, the largest in the region, and the second largest in the world. The strategic move coincides with the centennial anniversary of the inception of Hempel Group. Unveiling the plan, Ahmed Abdul Aziz, the sales and marketing director at Hempel Paints Middle East, said the move is in line with the market developments and its commitment to meet customer needs and requirements.

“We completely understand that Saudi Arabia, in line with its Vision for 2030, will witness dynamic developments across all aspects, particularly the construction sector, which is the largest in the region,” remarked Abdul Aziz.

According to Raden bin Sa’afaq Al Dweish, the chairman of the Housing and Urban Development Committee of the Eastern Province Chamber of Commerce Industry, around 1.5 million residential units are in demand in the market.

As for Hempel’s market share, Abdul Aziz said the paints and coatings market has a great growth potential, with an estimated value of SR3 billion ($799 million) a year. The company is aiming to double its market share in the kingdom.