SAB Invest signs an agreement to set up a real estate development fund with Kaden Investments and Alwabel Real Estate at Cityscape Global in Riyadh. The fund’s objective will be to acquire a land plot spanning an area of 600,771 square meters in Dammam in Saudi Arabia for the purpose of developing state-of-the-art logistics infrastructure for private businesses; supporting the Kingdom’s aspirations in becoming a global logistics hub, in-line with the objectives of Saudi Vision 2030’s National Industrial Development and Logistics Program.
For his part, Managing Director and CEO of SAB Invest Ali Almansour said, “This partnership underscores our dedication to fostering strong relationships within the real estate industry. We believe the demand for efficient and reliable logistics facilities is rapidly increasing. The envisioned investment fund will develop and operate top-tier logistics assets that contributes to the strength of the industry and aligns seamlessly with Saudi Vision 2030’s National Industrial Development and Logistics Program."
“We are pleased to partner with SAB Invest in developing dedicated warehouses for logistics and storage companies.” Said Engineer Mohammed Alothman, CEO at Kaden. “This collaboration builds on Kaden's successful track record in developing specialized logistics areas with world-class infrastructure that meets global standards for logistics industry leaders.”
“This isn’t a mere transaction; it is an investment in the future. By signing this agreement, we are joining forces to contribute to the nation’s vision, and I am honoured to play a role in its realization. May future generations look and see this as a testament to our shared vision and unwavering commitment to progress”. Said Mr. Hamad Alwabel, Chairman at Alwabel Real Estate.