Al Rajhi Capital and LogiPoint launch SAR 5 bn logistics fund for South Jeddah

South Jeddah’s new logistics fund: Al Rajhi Capital signed an MoU with LogiPoint valued at around SAR 5 bn to establish a dedicated investment fund for the South Jeddah Logistics and Industrial Park, Al Rajhi said on LinkedIn.

The CONTEXT- The project, which is located next to Modon’s Industrial City One in South Jeddah, will span 1.9 mn sqm, including nearly 1.5 mn sqm of leasable space for manufacturing, logistics providers, distributors, and regional supply chain operators. The development will feature dry warehouses, cold storage, temperature-controlled facilities, light industrial units, and staff accommodation, alongside build-to-demand and build-to-suit facilities for anchor tenants.

Next-year construction: Preliminary approvals have been secured, with final agreements expected by year-end and ground-breaking targeted for 1H 2027. Development will be phased, starting with purpose-built facilities for anchor tenants and expanding in line with market demand.