{"id":91135,"date":"2024-11-03T00:00:00","date_gmt":"2024-11-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/panattoni-gfh-partner-to-develop-logistics-facilities-worth-sar-2-bn\/"},"modified":"2024-11-03T00:00:00","modified_gmt":"2024-11-03T00:00:00","slug":"panattoni-gfh-partner-to-develop-logistics-facilities-worth-sar-2-bn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/03\/panattoni-gfh-partner-to-develop-logistics-facilities-worth-sar-2-bn\/","title":{"rendered":"Panattoni + GFH partner to develop logistics facilities worth SAR 2 bn"},"content":{"rendered":"

New logistics facilities worth up to SAR 2 bn are coming to the Kingdom:<\/strong> European real estate developer Panattoni<\/a> \u2019s Saudi arm has inked a partnership agreement with Bahrain\u2019s GFH Financial Group<\/a> to develop premium logistics facilities worth SAR 2 bn (USD 500 mn) in Riyadh, Jeddah, and Dammam over a five-year timeframe, Panattoni<\/a> and GFH<\/a> said in statements.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Breakdown: <\/strong>The SAR 2 bn (USD 500 mn) investment will be deployed over the coming five years to develop 500k sqm of logistics and industrial infrastructure at the sites mentioned. An initial SAR 375 mn (USD 100 mn) is earmarked for the first phase of the project, which will see the development of a 50k sqm logistics park adjacent to Al Kharj road in South Riyadh that is intended to support the increasing demand for logistics solutions in Riyadh.<\/p>\n

Panattoni will be in charge of designing and building up facilities<\/strong>, while GFH will provide funding for the project and also oversee tenant sourcing and leasing activities. GFH has already secured a leasing agreement with Qatar-based GWC Logistics<\/a> that will see the company lease up to 200k sqm across the project as an anchor tenant. <\/p>\n

Background:<\/strong> Panattoni first kicked off operations<\/a> in Saudi last April, when it had also noted that its key focus would be on the three mentioned cities. <\/p>\n","protected":false},"excerpt":{"rendered":"

Qatar\u2019s GWC Logistics has signed as an anchor tenant<\/p>\n","protected":false},"author":1,"featured_media":91136,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2640],"tags":[10,1119,3348,238,3347],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-logistics","tag-enterpriseam-ksa","tag-gfh-financial-group","tag-gwc-logistics","tag-logistics","tag-panattoni","wpautop","entry"],"acf":{"mongo_id":"e2b978c7-d4bc-482f-816e-73dd59299d82","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/67.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Panattoni + GFH partner to develop premium logistics facilities worth SAR 2 bn in Riyadh, Jeddah, and Dammam","related_issue":[91120],"teaser":"Qatar\u2019s GWC Logistics has signed as an anchor tenant","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.bb235f26-aa10-4a3c-ae02-60c713c0c9cb.mp3"},"yoast_head":"\nPanattoni + GFH partner to develop logistics facilities worth SAR 2 bn - 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