Ardco + Agility partner on new Riyadh logistics hub: Riyadh Development Company (Ardco) inked a SAR 227 mn strategic partnership with Kuwait’s Agility Logistics Parks to develop a 97.9k sqm logistics complex in Riyadh’s Al Remal District, the firm said in a filing to Tadawul. Construction is expected to begin at an unspecified time in 2025 with operations set to kick off in 2H 2026.

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More on the project: The facility will include 58k sqm of Grade A warehousing, with the rest of the square meterage dedicated to offering a integrated logistics complex with international specifications.

Who owns what: The project will be 40% owned by Ardco, with Agility Logistics Parks holding the remaining 60%.

Ardco had a busy few months: ANB Capital tapped the Tadawul-listed developer as infrastructure developer for a planned SAR 2.1 bn real estate fund last October. Ardco also inked a SAR 1.4 bn agreement in September to buy two real estate assets from Remat Al Riyadh Development.

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