Riyadh Development Company, Agility Logistics Parks sign agreement

Riyadh Development Company (ARDCO), a publicly listed Saudi real estate development and development management company, and Agility Logistics Parks (ALP), announced the signing of a partnership to build a state-of-the-art warehousing facility at a prime location east of Riyadh.

The SAR 227 million project involves construction of 58,000 sq.m. of Grade A warehousing on a 97,904 sq.m parcel of land in the Rimal district of Riyadh, says an official release from Agility. "The integrated logistics centre will be built by Agility on land owned by ARDCO. Construction is to begin in 2025, and the complex is expected to open in the first half of 2026."

Jehad AlKadi, CEO, ARDCO says: “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, Agility Logistics Parks adds: “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.”

First published on stattimes