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New logistics complex coming to Riyadh: Alsulaiman Group ’s supply chain arm, Flow Progressive Logistics, and Bahrain-based Sharia-compliant real estate and private equity player Arcapita will develop and operate a modern class-A logistics complex in Riyadh after signing an agreement, according to a statement. There is no publicly available information about the investment ticket or expected timeline for the project.
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The details: Arcapita will develop the 80k sqm mixed-use storage complex, while Flow will manage its operations under a long-term lease agreement, the statement said. The facility will include cold storage areas, dry storage for non-perishable goods, temperature-controlled spaces, and specialized areas for pharma and hazardous goods that are intended to meet the growing demand for modern storage and logistics services.
The pitch: “The Saudi Arabia industrial and logistics market continues to demonstrate positive supply-demand dynamics that are likely to support rental growth in the foreseeable future. This partnership will contribute to meeting the growing demand for modern logistics facilities and services in Riyadh, where demand is outstripping supply particularly when it comes to higher-quality assets,” Director of Real Estate Investments at Arcapita Isa Al Khalifa said.
ICYMI: Arcapita closed the SAR 1.8 bn KSA Logistics Fund III in March, with the participation of unnamed institutional investors and a GCC-based sovereign wealth fund. The fund is intended to develop Arcapita’s KSA logistics portfolio.The Bahraini fund expanded to Saudi in 2022.
IN OTHER LOGISTICS NEWS-
Batic + UAE’s Parkin to collaborate on parking solutions: Smart Cities Solutions Company, a subsidiary of Tadawul-listed Batic Investments and Logistics, will work with Dubai’s public parking operator Parkin to expand paid parking services in the Kingdom under an MoU it signed with Batic, according to a disclosure (pdf) from Parkin. The partnership will involve municipalities, real estate developers, operators of shopping centers, and hotels, among others.
ALSO- The partnership will see the two sides look into deploying technologies like AI, real-time data analysis, digital gates, sensors, and smart cameras in parking facilities.
