Batic Investment and Logistics Company has announced that one of its key subsidiaries - Batic Real Estate - has started work on its warehouse project coming up on a 10,000 sq m area within Al Manakh District in Riyadh.

 

Also plans are afoot to build frozen storage facilities on a 104,000 sq m agricultural plot of land owned by Batic Real Estate Company on the old Al Kharj Road located in the south of the Saudi capital, said Batic Investment and Logistics Company in its filing to Saudi bourse.

 

Already Batic Real Estate Company has obtained an agricultural project construction licence from the Ministry of Environment, Water and Agriculture in this regard, it stated.

 

Now efforts are on to secure all necessary licences for the project from other relevant official authorities, it added.

 

All this comes in line with the growing business landscape witnessed by the logistics sector in the Kingdom of Saudi Arabia, including the launch of the master plan for logistics centres last year and the readiness of Riyadh to host Expo 2030 and Vision 2030 projects, which will contribute to opening promising opportunities in the logistics sector, with the increase in population growth and demand for warehouses.

 

Batic Real Estate said it is currently studying a number of investment proposals in the real estate logistics sector - from purchase and development of lands or acquiring real estate logistics projects in Riyadh. 

 

This approach aims to benefit from the rapid growth in the sector, and in an effort to achieve sustainable and rewarding returns for shareholders, it stated.

 

The financial impact of the project is expected in the fourth quarter of 2025, it added.-TradeArabia News Service