Sadr to open a USD 40 mn logistics complex in Riyadh’s Industrial Gate City

Saudi-based logistics company Sadr plans to build a USD 40 mn logistics center in Riyadh, according to a company disclosure on the Saudi Stock Exchange (Tadawul). The logistics complex — dubbed Sadr Park — will be built in the Industrial Gate City in Riyadh.

What we know: The complex — which is set to be financed through a mix of debt and self financing — will offer storage solutions to customers for refrigerated, frozen and dry storage, according to the disclosure The project will be developed by a group of contractors from both within and outside Saudi Arabia, the disclosure adds, without revealing who they are.

The timeline: Construction is set to begin on 1 October, with an expected completion date of 25 March 2025.

About Sadr: Sadr provides a wide range of logistics services, including equipping, renting and managing warehouses. It also offers services for manufacturing shelves, storage systems, manufacturing wooden pallets and iron industries.