Logistic
Saudi’s Riyadh Development to build $60mln logistics complex in Riyadh
Riyadh Development Company (ARDCO) signed a strategic partnership with Agility Logistics Parks on Monday to develop a logistics complex in Al Remal District in Riyadh at the cost of 227 million Saudi riyals ($60.44 million).
The project covers an area of 97,904 square metres and includes the construction of 58,000 square metres of Grade A warehouses.
Construction is expected to begin in 2025, with a scheduled opening in the second half of 2026.
ARDCO will hold 40 percent of the total value of the project, while the remaining 60 percent will be held by Agility Logistics Parks.
The developer launched a strategy in 2023 to focus primarily on real estate development and management to keep pace with the rapid growth in Riyadh’s economy.
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