{"id":87608,"date":"2025-07-16T00:00:00","date_gmt":"2025-07-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/07\/16\/saudis-saco-sells-riyadh-warehouse-for-sar-140-mn\/"},"modified":"2025-07-16T00:00:00","modified_gmt":"2025-07-16T00:00:00","slug":"saudis-saco-sells-riyadh-warehouse-for-sar-140-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/07\/16\/saudis-saco-sells-riyadh-warehouse-for-sar-140-mn\/","title":{"rendered":"Saudi\u2019s Saco sells Riyadh warehouse for SAR 140 mn"},"content":{"rendered":"

Saudi Company<\/a><\/strong>for Hardware<\/a><\/strong> (<\/strong>Saco<\/strong>) sold its 43k sqm warehouse in Riyadh for about <\/strong>SAR 140 mn<\/strong> (c. USD 37 mn) to Sixth Irada Supply Company<\/strong>, according to a disclosure<\/a> to Tadawul. The transaction's proceeds will go towards clearing Saco\u2019s bank debt and supporting its future expansion initiatives. <\/p>\n

Behind the move:<\/strong> This sale is a part of Saco's so-called \u201cturnaround plan\u201d \u2014 aiming to streamline supply and distribution by consolidating operations into warehouses exclusively in Dammam city, while turning its Riyadh warehousing asset into investment property, the disclosure said. The firm expects this move to boost long-term strategic goals, improve supply chain efficiency, and increase returns through better asset management.<\/p>\n

Saco\u2019s 2024 in numbers: <\/strong>The Saudi-based player cut its y-o-y losses by 79.6% in FY 2024, recording a net loss of SAR 14.1 mn<\/a>, whereas its revenues rose 6.8% y-o-y to SAR 993.6 mn, partially due to growing logistics service revenue. Its fully-owned subsidiary Medscan Terminal Company<\/a> \u2014 which handles goods transportation services, port handling services, warehouse management and maintenance, and customs clearance services \u2014 saw its revenues more than double y-o-y to reach SAR 42.5 mn, according to company financials (pdf)<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The move embodies Saco\u2019s turnaround plan after the firm incurred a bottom line loss in 2024<\/p>\n","protected":false},"author":1,"featured_media":87609,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","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":[221],"tags":[31,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-storage-warehouses","tag-saudi-arabia","tag-storage-warehouses","wpautop","entry"],"acf":{"mongo_id":"005eba0e-ae92-44cc-8025-d7b12dd92baf","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/716.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi\u2019s Saco sells Riyadh warehouse for SAR 140 mn","related_issue":[87598],"teaser":"The move embodies Saco\u2019s turnaround plan after the firm incurred a bottom line loss in 2024","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.ca9a03ea-bf67-4700-9849-996a3d6c7e9f.mp3"},"yoast_head":"\nSaudi\u2019s Saco sells Riyadh warehouse for SAR 140 mn - 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