Sadr Logistics Services Co. has announced that its board of directors has approved the construction of the Logistics Services Complex Project (Sadr Park) in the Industrial Gate City in Riyadh. Slated to cost SAR 149 million, construction will commence on 1 October, with the project being financed through a combination of borrowing and self-financing.
The project will be supervised by the Saudi Authority for Industrial Cities and Technology Zones (MODON), with Sadr having approved the project budget and signed a contract with the main contractor.
It is envisaged that the project will create an integrated logistics services area that will provide refrigerated, frozen, and dry storage solutions to discerning customers. In line with the highest international quality specifications and standards, it will serve a variety of operations and support the company’s expansion strategy in the logistics services segment.
It is expected that Sadr Park will be completed by 31 March 2025
It is expected that Sadr Park will be completed by 31 March 2025, and is likely to positively impact the company’s results from the second quarter of 2025. Sadr anticipates that the park’s commercial operations will begin in the third quarter of 2025.