“Riyadh Development” signs an agreement to develop a logistics complex for 227 million riyals

Today, Riyadh Development Company signed a strategic partnership agreement with the aim of developing a “logistics complex” project in the Al-Rimal neighborhood in Riyadh with Agility Logistics Parks.
The company said in a statement on Saudi Tadawul: The value of the contract is 227 million riyals, and construction is expected to begin in 2025, and the logistics complex is scheduled to open in the second half of 2026.
She added that the project extends over an area of ​​97,904 square metres, and aims to establish an integrated logistics complex with international standards.
The project includes the construction of 58,000 square meters of Class A warehouses. The share of “Riyadh Development” will be 40% of the total value of the project, while the share of “Agility Logistics Complexes” will be 60% of the total value of the project.
She noted the announcement of the financial impact and the period in which it will be reflected at a later time.