Joint venture of ROSHN Group and Agility Logistics Parks to develop a logistic park
ROSHN
Group, Saudi Arabia’s leading multi-asset real estate developer and a
Public Investment Fund (PIF) company, has signed heads of terms with Agility Logistics Parks (ALP), a
global leader in industrial real estate, to establish a joint venture focused
on logistics development and operations.
The agreement was signed on the
sidelines of the PIF
Private Sector Forum in Riyadh by Sabah Barakat, Acting Group CEO of ROSHN
Group, and Tarek Sultan, Chairman of Agility.
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Under the proposed arrangement, the
joint venture aims to develop a large-scale Grade A logistics park spanning
approximately 1 to 1.5 million square metres. The project is planned for a
strategic location offering direct access to one of the Kingdom’s key gateways
and major national logistics corridors.
Commenting on the agreement, Sabah
Barakat said the collaboration highlights ROSHN Group’s position as a partner
of choice for foreign direct investment and its expanding role across Saudi
Arabia’s real estate and infrastructure sectors. He added that by developing
integrated, strategic assets that link public and private sector capabilities,
ROSHN Group continues to support economic diversification and long-term value
creation.
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Tarek Sultan noted that the
prospective partnership reflects Agility’s long-term commitment to Saudi Arabia
and its strategy to scale world-class logistics infrastructure from the
Kingdom. He said the planned development, located at the crossroads of major
intercontinental trade routes, demonstrates confidence in the long-term
fundamentals of Saudi Arabia’s logistics sector and will help strengthen the
Kingdom’s role as a global trade gateway, supporting industrial growth, trade
efficiency and supply-chain resilience.
Source: Roshn
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