The Node. It is noteworthy that the first phase of the project covers an area of about 400,000 square meters and includes warehouses classified as class “A” and is designed according to international standards with specifications that meet the needs of a diverse category of commercial tenants, while the complex area is 3 million square meters and will become a major logistics supply hub for the Riyadh region and is expected to create more than 3,000 jobs.
The project is characterized by an area of about 3 million square meters and will become a major logistics supply hub for the Riyadh region and is expected to create more than 3,000 job opportunities. The project is strategically located in eastern Riyadh at a junction that connects it to King Khalid International Airport Road, the second ring road, the third ring road, Khurais Road, Dammam Road and the eastern ring road, making it a major meeting point that facilitates tenants to reach their customers in the Riyadh region and various regions of the Kingdom.
<Speaking about the project, Mr. Mohannad Buhindi, Executive Director of Arcapita Group and CEO of Arcapita Capital, expressed his optimism about this partnership: “The development of a world-class logistics sector is one of the main pillars of the Kingdom's Vision 2030 and is part of the national strategy for transportation and logistics. Industrial real estate represents an important and essential platform to help improve the connectivity of the Saudi capital Riyadh to regional and international markets, providing quality investment opportunities that make us the ideal partner to enable this promising sector. Combining Arcapita's deep market knowledge, experience and successes through its various investments in industrial and logistics real estate in Saudi Arabia and around the world, we are delighted to be working on this investment opportunity with such a prestigious real estate development company as Rekaz Real Estate Group, and are confident that this partnership will provide an important logistics platform for regional and international tenants in the Kingdom.”
Mr. Khalid Khalid, CEO of Arcapita, said <For his part, Mr. Khalid bin Hassan Al Qahtani, Chairman and CEO of Rukaz Real Estate Group, said: “At Rekaz, we believe in the power of strategic partnerships, and the collaboration on this project is fully in line with Rekaz's expansion strategy by establishing partnerships with prestigious institutions, including Arcapita, and demonstrates our commitment to implement major real estate development projects in the Kingdom, in line with the Kingdom's Vision 2030, as we target to launch 8 new projects this year with a total investment of up to SAR 5 billion. We are confident that The Junction - The Node will play a pivotal role in helping to reshape the Kingdom's business sector by utilizing this strategic geographical location and vast area to facilitate innovative industrial and logistics projects.“
Arcap is honored to be a part of this project. <Arcapita currently manages US$1 billion worth of industrial real estate assets in the GCC and is one of the largest industrial real estate asset management companies in the region. Arcapita is expected to double its logistics assets under management in the region to US$2 billion by 2025.
Arcapita began executing its GCC industrial real estate investment strategy in 2010 with a series of specialized industrial asset funds and has grown its assets under management by acquiring a diversified base of properties leased to a wide range of tenants, including major global corporations and leading regional and local companies. Arcapita's GCC logistics real estate portfolio currently spans approximately 3.5 million square feet of built space across more than 30 properties occupied by more than 80 local, regional and international tenants, predominantly located between Saudi Arabia and the United Arab Emirates.
For Arcapita's GCC logistics real estate investment portfolio, the company has grown its assets under management through the acquisition of a diversified base of properties leased to a wide range of tenants, including major international corporations and leading regional companies. <Rakaz Real Estate Group has begun implementing a series of projects aimed at reshaping the real estate sector in line with the Kingdom's Vision 2030, allowing it to expand its portfolio at a steady pace through the acquisition of residential, commercial and recreational real estate projects in strategic locations that are considered major hubs for large groups of individuals, major regional companies and international companies. Today, RIKAZ's portfolio is spread across 40 million square meters of multi-category assets with a total value of SAR 12 billion, making a significant contribution to the Kingdom's urban development.
This landmark agreement comes as a result of the acquisition of residential, commercial and leisure properties in strategic locations that are key hubs for a wide range of individuals, major regional corporations and international companies. This important agreement comes within the framework of RIKAZ's keenness to benefit from the expertise of major international companies, strengthening its position as one of the leaders in the real estate development sector in the region, as well as representing a new point in the group's growth and expansion in the Saudi market.
