Mubasher: Riyadh Development Company inked a strategic partnership agreement with Agility Logistics Parks (ALP), owned by Agility Global, at a value of SAR 227 million.
The two entities signed the deal, on 9 December 2024, to develop a logistics complex project in Al Remal District in Riyadh, according to a bourse filing.
The project, which extends over an area of 97,904 square metres, will create an integrated logistics complex with international specifications. It covers the construction of 58,000 square metres of Grade A warehouses.
Riyadh Development will hold a 40% share of the total value of the project, while Agility Logistics Parks’ contribution to this partnership is 60%.
The construction process is expected to begin in 2025 and the logistics complex is scheduled to open in the second half (H2) of 2026.
Last October, Agility Global announced an expansion project in Riyadh for Agility Logistics Parks.
