Riyadh – Sharikat Mubasher: Riyadh Development Company (ARDCO), a publicly traded leader in Saudi real estate development and management, announced inking a strategic agreement with Agility Logistics Parks (ALP) to develop a cutting-edge warehousing facility in a prime location east of Riyadh.

The SAR 227 million project will feature 58,000 square meters of Grade A warehousing on a 97,904 square meter site in Riyadh's Rimal district, according to a joint press release.

Upon this agreement, Agility will construct the integrated logistics center on land owned by ARDCO. Construction is set to commence in 2025, with the facility slated for completion and operation by the first half of 2026.

On this occasion, Jehad AlKadi, CEO of ARDCO, said: "This partnership is part of our 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."

Michel Saab, CEO of Agility Logistics Parks, also 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.”