USD 1.06B Logistics Hub to Be Built in Riyadh's Falcon City
The new logistics zone follows a deal between Saudi Logistics Services (SAL) and Sela Co.
A new logistics zone worth SAR 4 billion (USD 1.06 billion) is set to be developed within Falcon City in northern Riyadh, following a deal between Saudi Logistics Services (SAL) and Sela Co. The project aims to reinforce Saudi Arabia's position as a global logistics hub by introducing advanced supply chain infrastructure, Class A warehouses, and multimodal transport links.
Spanning 1.5 million square metres, the logistics zone will be strategically located near King Khalid International Airport, major highways, and railway networks, ensuring efficient movement of goods both locally and regionally. The project is backed by the Private Sector Partnership Program (Shareek) and aligns with Saudi Arabia's Vision 2030 goal of investing over SAR 1 trillion into the logistics sector.
Falcon City itself covers 14.4 million square metres, designed to attract global companies with key developments such as the Riyadh Exhibition and Convention Center, an aviation runway, and an aircraft maintenance hub. Additionally, the site will feature economic, commercial, residential, hospitality, and entertainment districts, along with a dedicated outlet mall.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Tahya Masr
3 days ago
- Tahya Masr
Nasdaq Dubai Welcomes Mashreq's USD 500 Million Sukuk Listing
Nasdaq Dubai welcomed Mashreq's (''Mashreq'' or ''the Bank'') debut listing on the exchange with the admission of a USD 500 million Sukuk issued by Mashreq Al Islami Sukuk Company Ltd . The Trust Certificates, due in 2030, were issued under Mashreq's USD 2.5 billion Trust Certificate Issuance Programme and are being admitted as a secondary listing following strong demand in the primary market. This marks an important milestone for Mashreq as it expands its access to international capital markets and strengthens its presence in the Islamic finance space. It also reflects Nasdaq Dubai's continued role in connecting regional issuers with a global investor base through a well-regulated and diversified platform. Senior officials from Mashreq, including Ahmed Abdelaal, Group Chief Executive Officer; Joel Van Dusen, Group Head of Corporate & Investment Banking; and Salman Hadi, Group Head of Treasury & Global Markets, attended the market opening ceremony at Nasdaq Dubai to celebrate the listing. The bell was rung by Ahmed Abdelaal in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). Abdul Aziz Al Ghurair, Chairman of Mashreq, commented: "This Sukuk listing marks an important step in Mashreq's commitment to strengthening the global Islamic finance landscape. It is a clear demonstration of Mashreq's long-term commitment to Islamic finance, the deepening of cross-border capital flows, and the UAE's continued emergence as a global nexus for ethical and Sharia-compliant financing. Through this programme, we are proud to reinforce investor trust and contribute meaningfully to the maturing of Islamic capital markets . Ahmed Abdelaal, Group Chief Executive Officer, Mashreq said: 'Our debut listing on Nasdaq Dubai marks a new chapter in Mashreq's capital markets journey. This Sukuk issuance not only attracted strong investor interest, but also affirms our disciplined approach to funding, even in a complex macro environment. As we continue to diversify our capital structure through Sharia-compliant channels, we remain committed to delivering strong fundamentals, market transparency, and sustainable value for all stakeholders. Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said: 'This listing reflects Mashreq's growing ambitions in the Islamic finance sector and underscores our role as a leading marketplace that connects regional issuers with global investors. As Dubai continues to strengthen its capital markets infrastructure, we remain committed to providing an efficient and transparent platform that supports diverse financing needs and promotes sustainable growth across the financial ecosystem. This landmark Sukuk issuance marked Mashreq's successful return to the international debt capital markets. It was also the first public issuance from the CEEMEA region since the announcement of U.S. tariffs in April 2025, which had triggered heightened volatility across global markets. The success of this transaction renewed market participants' confidence, and was followed by a string of issuances, thereby helping to reopen the market for regional issuers. The transaction attracted significant investor interest, resulting in an orderbook of USD 2.9 billion, nearly six times oversubscribed. The final pricing was tightened to UST +105 basis points with a fixed profit rate of 5.03% per annum, reflecting the strength and quality of the orderbook and strong investor confidence in Mashreq's credit fundamentals. With broad participation from over 90 global investors across the Middle East, Europe and Asia, the issuance reaffirms Mashreq's leadership in Islamic finance and reinforces Dubai's growing stature as a global hub for Sharia-compliant capital markets. With this listing, the total value of Sukuk listed on Nasdaq Dubai has reached USD 97.2 billion, further strengthening the exchange's position as one of the world's largest centres for Islamic fixed income. The overall value of debt securities listed on Nasdaq Dubai now stands at over USD 140 billion, across 163 issuances. These figures reflect the depth and maturity of the UAE's capital markets, as well as the growing appeal of Dubai as a gateway for regional and international investment.
Egypt Today
3 days ago
- Egypt Today
Vodafone Egypt Reinforces Market Leadership by Launching Egypt's Most Extensive 5G Network to Drive Digital Innovation
Today, Vodafone Egypt officially launched 5G technology for the first time in the Egyptian market, delivering an unprecedented array of advantages that extend far beyond individual consumers to encompass businesses and enterprises alike. This groundbreaking initiative solidifies Vodafone Egypt's position as an industry pioneer in innovation, cutting-edge communications, and digital empowerment for millions of Egyptians by providing state-of-the-art telecommunications services. The revolutionary 5G network delivers seamless, high-speed streaming experiences with ultra-low latency, satisfying the demanding requirements of advanced interactive applications and gaming enthusiasts. It also provides exceptional reliability, strengthening digital infrastructure across healthcare, industrial, and numerous other critical sectors. Furthermore, the network facilitates the advancement of Internet of Things (IoT) services across multiple vital industries, significantly enhancing quality of life while bolstering the national economy. Building on Vodafone's extensive global experience in deploying 5G technology across diverse international key markets, the company introduces this technology in Egypt, offering unparalleled coverage spanning over 2,000 sites from Cairo to Upper Egypt, across numerous governorates throughout the Republic. This comprehensive rollout ensures superior telecommunications services for users while supporting all economic sectors. Vodafone Egypt commits to substantially expanding its 5G coverage areas over the coming weeks, with ambitious plans to extend 5G technology nationwide, thereby reinforcing its role as a digital enabler by establishing a robust network equipped with cutting-edge services that will serve as the cornerstone of Egypt's future digital economy. Mohamed Abdallah, Chief Executive Officer of Vodacom International Markets and Vodafone Egypt commented: "Today marks a historic milestone in Egypt's telecommunications landscape with the launch of 5G technology, representing the culmination of our successful infrastructure development strategy and adoption of the world's most advanced technologies. We take immense pride in maintaining our position as Egypt's top-performing network for the second consecutive year, as validated by independent international organizations, demonstrating our unwavering commitment to delivering exceptional customer experiences. Through our 5G network launch, Vodafone Egypt harnesses the Vodafone Group's global expertise to provide our individual and corporate customers with the most comprehensive and reliable coverage in the Egyptian market, unlocking innovative possibilities across vital sectors including healthcare, industry, and education, while paving the path toward smart cities and contributing to Egypt's Vision 2030 digital transformation objectives." Vodafone extends access to 5G technology to all customers across every package, without additional charges, simply by activating the service through device settings adjustments for 5G-compatible devices, eliminating the need for SIM card replacement. Customers can verify device compatibility through the Vodafone application or via the dedicated link: The company delivers 5G technology with dependable connectivity and exceptional data transfer speeds, supported by substantial investments in developing robust infrastructure that provides users with reliable, high-speed connections and trustworthy services. This is made possible by the latest innovative technologies, including the groundbreaking 'Adaptive Interference Free (AIF)' system. This system, pioneered by Vodafone Egypt, is a world-first innovation that eliminates interference in the 5G network, ensuring consistently high performance. Mohamed Abdallah concluded: "Vodafone Egypt firmly believes technology should serve everyone universally. Through our 5G launch, we create new opportunities across all sectors while reaffirming our dedication to accelerating Egypt's digital transformation and establishing the foundation for tomorrow's digital economy. We consistently place our customers at the center of our operations, continuously striving to simplify their daily lives and elevate their digital experiences." To showcase the advantages of 5G within the Egyptian market, Vodafone Egypt participated in Insomnia Egypt, the country's largest gaming festival. The event, held from April 24 to 26, 2025, at the Cairo International Exhibition Center, provided a platform for Vodafone Egypt to demonstrate the capabilities of 5 G technology in enhancing gaming experiences. This initiative represents part of Vodafone Egypt's significant achievements series, confirming the company's extensive expertise in this domain, which was recently highlighted by securing first place in the latest network performance measurement reports from Umlaut, the independent benchmarking organization for both 2024 and 2025.
Mid East Info
3 days ago
- Mid East Info
KFSHRC Pioneering Clinical Trials and Gene Therapy Across the Region - Middle East Business News and Information
As part of Saudi Arabia's broader biotechnology transformation under Vision 2030, King Faisal Specialist Hospital & Research Centre (KFSHRC) solidified its role as the Kingdom's leading Clinical Trials hub in 2024 — conducting 52.4% of all active Clinical Trials nationwide, according to the Saudi National Institute of Health. This milestone reflects the sustained success of KFSHRC's Clinical Trials Transformation Initiative, launched in 2021 to build an integrated, patient-centered research ecosystem. By the end of 2024, the hospital had recorded 701 active research proposals, representing an 8% increase over the previous year. In Riyadh alone, research approvals rose by 20%, demonstrating growing alignment between scientific discovery and clinical care delivery. KFSHRC's research growth was matched by key innovation milestones. In 2024, it became the first in Saudi Arabia to locally produce CAR-T cells — a major step toward national self-sufficiency in advanced therapies. It also delivered a breakthrough in hemophilia care, using one-time gene therapy to restore clotting function in eight patients, eliminating preventive treatment and significantly improving quality of life. These advancements align closely with Saudi Arabia's Vision 2030 and National Biotechnology Strategy, which designate biotechnology as a national priority sector — aiming to localize therapeutic development, accelerate innovation, and establish global leadership by 2040. Complementing its scientific leadership, KFSHRC has also invested in public engagement, launching awareness campaigns in high-traffic public venues to promote Clinical Trials literacy and reduce misconceptions around participation. It is noteworthy that KFSHRC has been ranked first in the Middle East and Africa and 15th globally among the world's top 250 Academic Medical Centres for the third consecutive year, and recognised as the most valuable healthcare brand in the Kingdom and the Middle East, according to the 2025 Brand Finance rankings. Additionally, it was included in the World's Best Smart Hospitals list for 2025 by Newsweek magazine.
