Rikaz, Saudi Arabia’s leading real estate developer, announced the signing of a strategic partnership with Logistiya, a company specialized in developing logistics facilities, and Forsa Capital, an investment fund management firm, to launch a logistics real estate fund with investments estimated at SAR 300 million. The announcement was made on the sidelines of Cityscape Saudi Arabia 2025, held in Riyadh from November 17 to 20.
Under the partnership, a plot of land of approximately 97,000 square meters within The Node project in Riyadh will be allocated to develop an “A-Class” warehousing facility covering around 67,000 square meters. The facility is expected to begin operations in 2027.
The partnership between Rikaz, Logistiya, and Forsa Capital reflects their commitment to supporting the development of the logistics sector in the Kingdom and enhancing logistics facilities in line with the highest international standards. This initiative will help improve supply chain efficiency, meet the growing demand for modern logistics infrastructure, and strengthen the ability to attract institutional capital and investors who favor long-term income-generating assets such as warehouses and logistics centers.
This partnership also embodies a unified forward-looking vision aimed at creating sustainable value that attracts quality investments and provides innovative development solutions supporting the Kingdom’s economic transformation, especially given that investment in the logistics sector is a key priority of Saudi Arabia’s Vision 2030.
Khalid bin Hassan Al-Qahtani, Chairman and CEO of Rikaz, expressed his excitement about the launch of this partnership, stating: “Our collaboration with Logistiya and Forsa Capital to develop the first ‘A-Class’ warehouse complex within our flagship The Node project represents the culmination of our ongoing efforts to support Saudi Arabia’s Vision 2030.
He added: “At Rikaz, we believe in adhering to the highest standards of quality and innovation. This partnership ensures the provision of logistics facilities that meet global standards, enhancing our ability to attract international companies.”
He further emphasized: “This project marks the beginning of larger and more ambitious initiatives in the logistics sector. Through this collaboration, we are committed to delivering high-quality, state-of-the-art logistics facilities that support the Kingdom’s national economic ambitions and strengthen our position as a leading developer in Saudi Arabia.”
It is worth noting that Rikaz possesses a rich and diverse portfolio, encompassing a range of residential, commercial, and entertainment projects. The company’s vision aligns with the Kingdom’s accelerated urban development as part of its ambitious plans under Vision 2030. Rikaz holds a unique and distinguished position in the region, having successfully delivered exceptional real estate and urban development projects in prime locations, offering high-quality services that enhance the quality of life and fulfill the aspirations of Saudi citizens for distinctive and premium housing.
