Agility’s subsidiary signs SAR 227M deal to develop logistics facility in Saudi Arabia

10/12/2024 Argaam

The signing of the agreement

Agility Logistics Parks, a subsidiary of Abu Dhabi-listed Agility Global, signed a strategic partnership agreement with Riyadh Development Co. (ARDCO) to develop a logistics facility in Riyadh.

 

The project has a total value of SAR 227 million (approximately AED 221 million).

 

The company holds a 60% stake in the partnership. The project will span 97,900 square meters (sqm) and aims to create an integrated logistics complex, including warehouses covering 58,000 sqm.

 

Agility Global confirmed in a statement that the project development will take two years, starting in the first half of 2025.

 

In a separate statement, Agility highlighted that the capital expenditures related to the project will be reflected in the company’s financial statements throughout the development period.

Agility Logistics - Partnership agreement with Riyadh Development Co.

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