Alandalus Property acquires Riyadh logistics site

Alandalus Property said its subsidiary, Marafiq Alandalus Allujistiyah, acquired a 44,550-square-metre plot in Riyadh’s Al Mashael District. The seller was Ahmad Suleiman AlFahad wa Awladuh Company, and the stated purchase price was US $22mn.

The company said the land will be used to develop logistics warehouses and other associated facilities. The article does not specify the project’s design, capacity, construction schedule or intended tenants.

Alandalus Property described the acquisition as part of its 2026–2030 strategy. That strategy aims to diversify the company’s investment portfolio and expand into the logistics sector.

The company said the acquisition’s financial impact is expected to appear in its financial statements in Q4 this year. The article does not give a more specific date for that reporting.

Alandalus Property said the acquisition was funded through a combination of internal resources and bank facilities. The article does not state how the funding is divided between those sources.