SAUDI ARABIA Panattoni signs $500m Saudi deal

GFH will provide financial support and oversee the sourcing of tenants and leasing activities, while Panattoni will be responsible for the development management. The developer announced that it had set up operations in the country earlier this year.

The partnership will be focused on developing in key cities, including Riyadh, Jeddah and Dammam, in a total planned investment of SAR 2 bln (USD 500 mln) over the next five years. An initial allocation of SAR 375 mln (USD 100 mln) will be made in the first phase, which will include the development of a 50,000 sqm logistics park in south Riyadh to support the increasing demand for logistics solutions in and around the capital.

This collaboration with Panattoni is testament to our commitment to supporting Saudi Arabia’s Vision 2030, which aims to make the country a global logistics hub and a leader in sustainable and innovative logistics solutions. The logistics sector is a central pillar of the Kingdom’s diversification strategy, and we are proud to launch these investments which will drive economic growth by enhancing the quality of logistics infrastructure. Together, we aim to set a new standard for logistics facilities in the region.
Razi Almerbati, the CEO of GFH Capital Saudi

GWC Logistics, one of the Gulf Cooperation Council’s logistics providers, has already agreed to lease 200,000 sqm of space to be developed over the next four years.

We are excited to partner with GFH on this transformational project in Saudi Arabia’s high-growth logistics sector. Panattoni’s extensive experience in developing Grade A logistics facilities will play a pivotal role in creating a sustainable and efficient logistics ecosystem in Saudi Arabia.
Daniele Sotti, the managing director of Panattoni Saudi Arabia