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Kaden ramps up Saudi offerings: Riyadh-based real estate development company Kaden signed agreements with Almqr Development, Al Wabel, Miyar Capital, and Tilal Real Estate to launch logistics projects in Jeddah, Dammam, and Medinah, Aleqtisadiah reported on Thursday.
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The details: Kaden signed an MoU with Almqr Development to develop the Imdad industrial logistics project on a 1mn sqm area in Madinah for an undisclosed cost. An agreement was also signed with Al Wabel to establish a SAR 550 mn fund for the Logistics Park Dammam project. Kaden also signed an agreement with Miyar Capital and Tilal Real Estate to establish a real estate fund with a value up to SAR 400 mn to develop the Logistics Park Jeddah on an area of 300k sqm. No timeline for projects has been revealed.
Kaden making moves: Kaden signed an agreement in July with German logistics giant DB Schenker to expand logistics services across the Saudi market to develop logistics facilities and custom warehouses to meet DB Schenker’s operational needs.
