Agility to build major warehousing facility in Riyadh
RIYADH, 1 days ago
Riyadh Development Company (ARDCO) said it has signed an agreement with Agility Logistics Parks (ALP) for the construction of a major warehousing facility in the kingdom at a total investment of SAR227 million ($60.3 million).
The project involves construction of 58,000 sq m of Grade A warehousing on a 97,904 sq m parcel of land at a prime area in the Rimal district of Riyadh.
As per the deal, the integrated logistics centre will be built by Agility on a land owned by ARDCO.
Work on the project will begin next year and the complex is expected to open in the first half of 2026, it added.
On the key Agility tie-up, CEO Jehad AlKadi said: "This partnership is part of ARDCO's commitment to the 'Invest to Grow' strategy, which aims to invest in promising growth sectors, providing a sustainable source of income for the company while creating added value in priority sectors and maximizing overall shareholder returns."
"The 'Logistics Facilities' project, in collaboration with Agility Logistics Parks, marks the company's first investment in high-quality logistics sector facilities. This contributes to strengthening Riyadh's position as a vibrant capital and a regional hub for logistics services," he stated.
Michel Saab, CEO of Agility Logistics Parks, said: "We are proud to collaborate with ARDCO on this new project, which reflects our confidence in Saudi Arabia’s potential as one of the most exciting markets for logistics investment in the world today."
"Agility has been investing in building strategic logistics infrastructure in the Kingdom for over two decades, and we’ve witnessed first-hand how Riyadh is continuing to strengthen its position as a vital regional and global logistics hub. This project will further expand logistics capacity and resilience in the nation’s dynamic capital," he added.-TradeArabia News Service
