Saudi-listed SAL Logistics launches $1bln logistics zone in Riyadh
Saudi-listed SAL Logistics Services and Public Investment Fund-backed Sela have signed an agreement to develop the SAL Logistics Zone in Falcon City, north of Riyadh.
The logistics zone will cover an area of over 1.5 million square metres (sqm) and will be developed at the cost of 4 billion Saudi riyals ($1.1 billion).
The project will feature high-quality warehouses, scalable storage solutions, and the latest operational infrastructure, incorporating advanced security systems, climate-controlled storage, and energy-efficient solutions.
No construction timeline was given.
Spanning 14.4 million sqm in Malham, north of Riyadh, Falcon City will host the Riyadh Exhibition and Convention Centre, an advanced logistics zone for global enterprises, runway and aircraft maintenance facilities to enhance air cargo and logistics operations. The project will also include commercial, residential, hospitality, entertainment, and retail zones.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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