Arcapita Group Holdings Limited, the global alternative asset manager, and RIKAZ, a prominent large-scale real estate developer in Saudi Arabia, announced a partnership to collaborate on the development of a logistics park called “The Node” in Riyadh, which is designed to meet the specifications of prominent international and regional tenants.
The Node is a 3 million square meter (“sqm”) development that is poised to become Riyadh’s premier logistics hub. The first phase of the project will cover an area of approximately 400,000 sqm that will house ‘grade A’ warehousing facilities, developed according to global standards by Arcapita and RIKAZ for a variety of commercial tenants.
The project is strategically located in eastern Riyadh, with access to King Khalid International Airport, the Second and Third Ring Roads, Khurais, Dammam, and the Eastern Ring Road, thereby serving as a strong node for tenants to service customers in Riyadh, across the Kingdom and is anticipated to generate over 3,000 job opportunities.
BNA(R)
