Arcapita Group Holdings Limited and RIKAZ announced a partnership for developing a logistics park named ‘The Node’ in Riyadh, Muhannad Buhindi, MD, Arcapita Group and CEO, Arcapita Capital Company said. Spanning over 3 million square meters, the Node is poised to become Riyadh’s premier logistics hub.
The project’s first phase will cover an area of around 400,000 sq.mts., that will house ‘grade A’ warehousing facilities, according to global standards. The project would be located in eastern Riyadh, with access to King Khalid International Airport, the Second and Third Ring Roads, Khurais, Dammam, and the Eastern Ring Road, and is anticipated to generate more than 3,000 job opportunities.
“A world-class logistics ecosystem sits at the heart of Saudi Arabia’s Vision 2030, under the auspices of the National Transport and Logistics Strategy. We are delighted to work with an experienced developer such as RIKAZ,” Buhindi added.
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