23 Hrs
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الاقتصادية
Al-Andalus buys land in Riyadh for warehouses
Al Andalus Real Estate Company, through one of its owned subsidiaries, purchased a logistics land in Al-Mashael neighborhood in Riyadh, measuring 44,550 square meters at a value of 83.8 million Saudi Riyals. The aim is to develop high-quality warehouses that comply with industry standards and requirements. The deal was concluded on October 18, 2026, with financing from internal resources and banking facilities. This aligns with the company's expansion strategy to increase revenue and diversify its investment portfolio in the logistics sector. The financial impact of the transaction is expected to appear on the company's financial statements in the fourth quarter of 2026. It is part of the company's plan for the period 2026-2030 to enhance efficiency and sustainable growth.
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