Arcapita Group Holdings Limited, the global alternative asset manager, and RIKAZ, a prominent large-scale real estate developer in Saudi Arabia, today announced a partnership to collaborate on the development of a logistics park called The Node in Riyadh, which is designed to meet the specifications of prominent international and regional tenants.
The Node is a 3 million square-metre development poised to become Riyadh’s premier logistics hub. The first phase of the project will cover an area of approximately 400,000 sq m that will house ‘grade A’ warehousing facilities, developed according to global standards by Arcapita and RIKAZ for a variety of commercial tenants.
The project is strategically located in eastern Riyadh, with access to King Khalid International Airport, the Second and Third Ring Roads, Khurais, Dammam, and the Eastern Ring Road, thereby serving as a strong node for tenants to service customers in Riyadh, across the kingdom and is anticipated to generate more than 3,000 job opportunities.
Muhannad Buhindi, managing director at Arcapita Group and chief executive of Arcapita Capital Company, said: “A world-class logistics ecosystem sits at the heart of Saudi Arabia’s Vision 2030, under the auspices of the National Transport and Logistics Strategy.
“Industrial real estate is a critical platform to help better connect Riyadh to regional and international markets and therefore presents a compelling investment opportunity. With an extensive track record of successful industrial and logistics real estate investments in Saudi Arabia and globally, Arcapita is well-positioned to take an active role in developing the kingdom’s logistics ecosystem.
“We are delighted to work with an experienced developer such as RIKAZ on this opportunity and are confident that this partnership will enable us to develop a high-end logistics platform for world-class regional and international tenants.”
Khalid bin Hassan Al-Qahtani, chairman and chief executive of RIKAZ, said: “At RIKAZ, we firmly believe in the power of strategic partnerships. This collaboration aligns seamlessly with RIKAZ’s expansion strategy by fostering partnerships with highly respected institutions like Arcapita. It underscores our commitment to tapping into the significant real estate development in Saudi Arabia, in harmony with the ambitious Vision 2030.
“We are preparing to launch eight new projects during the current year with a total investment of up to 5 billion Saudi riyals. By leveraging this strategic geographic location and the expansive area to facilitate innovative industrial and logistical projects, we firmly believe The Node will play a pivotal role in helping reshape the business landscape in the region.”
Arcapita currently manages $1 billion of industrial real estate assets in the GCC, making it one of the largest industrial real estate asset managers in the region. The company is targeting to double its GCC logistics assets under management to $2 billion by 2025.
Arcapita embarked on its GCC industrial strategy in 2010 by establishing a series of funds dedicated to industrial assets. The company grew its assets under management, by acquiring a diversified base of properties tenanted by a wide range of occupiers including blue-chip international companies, regional leaders, and local players. Today, Arcapita’s logistics real estate portfolio, principally across Saudi Arabia and the United Arab Emirates, consists of a combined built-up area of more than 3.5 million square feet across more than 30 properties, leased to more than 80 local, regional and global tenants.
RIKAZ initiated a series of projects aimed at reshaping the real estate sector, aligning with the goals of Vision 2030. This has led to the steady expansion of its portfolio by acquiring strategically located properties featuring a mix of residential, commercial, and entertainment projects, serving as hubs to a broad spectrum of individuals, leading regional entities, and international companies.
Presently, RIKAZ's real estate portfolio spans vital locations in Saudi Arabia, offering more than 40 million square metres across multi-asset class with a value of 12 billion Saudi riyals, significantly contributing to the evolving urban fabric of the Kingdom.
This pivotal agreement reflects RIKAZ's commitment to leveraging the experiences of global leaders, positioning itself as a pioneer in the region's real estate development. A milestone in the company's expansion strategy within the Saudi market, this partnership aligns with RIKAZ's vision of collaborating with major investors to shape the kingdom's real estate future.
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Major trophies: 6 (Premier League x 1, Champions League x 1, FA Cup x 1, League Cup x 2, Fifa Club World Cup x1)
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Starring: Nicola Coughlan, Luke Newton, Jonathan Bailey
Rating: 3/5
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Company Profile
Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
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Director: Peyton Reed
Stars: Paul Rudd, Evangeline Lilly, Jonathan Majors
Rating: 2/5
ILT20 UAE stars
LEADING RUN SCORERS
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WISH
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Stars: Ariana DeBose, Chris Pine, Alan Tudyk
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2019 ASIAN CUP FINAL
Japan v Qatar
Friday, 6pm
Zayed Sports City Stadium, Abu Dhabi
What to watch out for:
Algae, waste coffee grounds and orange peels will be used in the pavilion's walls and gangways
The hulls of three ships will be used for the roof
The hulls will painted to make the largest Italian tricolour in the country’s history
Several pillars more than 20 metres high will support the structure
Roughly 15 tonnes of steel will be used
Godzilla x Kong: The New Empire
Director: Adam Wingard
Starring: Brian Tyree Henry, Rebecca Hall, Dan Stevens
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Some insurers, such as World Nomads, allow you to book once you are travelling – but, as Mr Mohammed found out, pre-existing medical conditions are not covered.
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ANATOMY OF A FALL
Director: Justine Triet
Starring: Sandra Huller, Swann Arlaud, Milo Machado-Graner
Rating: 5/5
Indika
Developer: 11 Bit Studios
Publisher: Odd Meter
Console: PlayStation 5, PC and Xbox series X/S
Rating: 4/5
The specs
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The Specs
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Years built: 1986-93
Total vehicles built: 328
Value today: $300,000+
TERMINAL HIGH ALTITUDE AREA DEFENCE (THAAD)
What is THAAD?
It is considered to be the US's most superior missile defence system.
Production:
It was created in 2008.
Speed:
THAAD missiles can travel at over Mach 8, so fast that it is hypersonic.
Abilities:
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Range:
THAAD can target projectiles inside and outside the Earth's atmosphere, at an altitude of 150 kilometres above the Earth's surface.
Creators:
Lockheed Martin was originally granted the contract to develop the system in 1992. Defence company Raytheon sub-contracts to develop other major parts of the system, such as ground-based radar.
UAE and THAAD:
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RESULT
Bayer Leverkusen 2 Bayern Munich 4
Leverkusen: Alario (9'), Wirtz (89')
Bayern: Coman (27'), Goretzka (42'), Gnabry (45'), Lewandowski (66')
Williams at Wimbledon
Venus Williams - 5 titles (2000, 2001, 2005, 2007 and 2008)
Serena Williams - 7 titles (2002, 2003, 2009, 2010, 2012, 2015 and 2016)
Representing UAE overseas
If Catherine Richards debuts for Wales in the Six Nations, she will be the latest to have made it from the UAE to the top tier of the international game in the oval ball codes.
Seren Gough-Walters (Wales rugby league)
Born in Dubai, raised in Sharjah, and once an immigration officer at the British Embassy in Abu Dhabi, she debuted for Wales in rugby league in 2021.
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With an Emirati father and English mother, Shams excelled at rugby at school in Dubai, and went on to represent England on the sevens circuit.
Fiona Reidy (Ireland)
Made her Test rugby bow for Ireland against England in 2015, having played for four years in the capital with Abu Dhabi Harlequins previously.
The story of Edge
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.
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Tenet
Director: Christopher Nolan
Stars: John David Washington, Robert Pattinson, Elizabeth Debicki, Dimple Kapadia, Michael Caine, Kenneth Branagh
Rating: 5/5
In Full Flight: A Story of Africa and Atonement
John Heminway, Knopff
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
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Company profile
Company name: Fasset
Started: 2019
Founders: Mohammad Raafi Hossain, Daniel Ahmed
Based: Dubai
Sector: FinTech
Initial investment: $2.45 million
Current number of staff: 86
Investment stage: Pre-series B
Investors: Investcorp, Liberty City Ventures, Fatima Gobi Ventures, Primal Capital, Wealthwell Ventures, FHS Capital, VN2 Capital, local family offices