6 Hrs
Source:
الاقتصادية
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Al-Andalus acquires land in Riyadh for warehouses
Al Andalus Real Estate Company, through one of its wholly owned subsidiaries, purchased a plot of land measuring 44,550 square meters in Al-Mashaael District in Riyadh for 83.8 million SAR. The aim is to develop high-quality logistics warehouses that meet all requirements. The transaction was finalized on October 18, 2026, financed by the company's internal resources and bank credit facilities, with no related parties involved. This acquisition is part of the company's expansion strategy to increase revenue and diversify its investment portfolio within the logistics sector. The financial impact of this deal is expected to be reflected in the financial statements during the last quarter of 2026, as part of the company's plan for 2026-2030.
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