Al Khobar, Kingdom of Saudi Arabia – 14 July 2026 — RIKAZ Properties, one of Saudi Arabia’s leading real estate development and investment companies, has announced the acquisition of a 75% stake in Logistiya, a specialised platform for the development of industrial and logistics assets. Innovest, Logistiya’s founding company and strategic partner, will retain a 25% stake. Together, the three parties will establish a long-term strategic partnership aimed at accelerating the development of logistics and industrial infrastructure across the Kingdom.

This investment represents a strategic milestone in RIKAZ Properties’ journey towards building an integrated national platform for the development and investment of logistics assets. The partnership brings together RIKAZ Properties’ capabilities in large-scale project development, real estate investment management and its extensive land portfolio, Logistiya’s specialised expertise in developing industrial and logistics facilities, and Innovest’s continued role as a strategic partner supporting future growth and expansion.

The transaction comes at a time when Saudi Arabia’s logistics sector is undergoing an unprecedented transformation, driven by the objectives of Saudi Vision 2030 and the National Transport and Logistics Strategy, which aim to strengthen the Kingdom’s position as a global logistics hub connecting Asia, Europe and Africa. Demand for modern industrial and logistics facilities also continues to record strong growth, supported by industrial expansion, the rapid growth of e-commerce and the restructuring of regional and global supply chains.

The acquisition further advances RIKAZ Properties’ strategy to strengthen its presence in the logistics sector and build upon its high-value investments, most notably The Node, one of the Kingdom’s largest integrated logistics developments. This reflects the company’s commitment to developing high-quality institutional assets that support economic growth and enhance the Kingdom’s competitiveness.

Despite its recent establishment, Logistiya has successfully built one of the most promising development portfolios in the logistics sector. Its current portfolio comprises 13 projects under development, covering a total area of more than 2.5 million square metres. The company also plans to activate projects valued at more than SAR 2.5 billion by the end of 2027 across the Kingdom’s key logistics corridors.

Shaikh Khalid bin Hassan Al-Gahtani, Chairman and Chief Executive Officer of RIKAZ Properties, commented:

“This partnership represents an important strategic step in RIKAZ Properties’ journey towards building specialised investment platforms in sectors that form key pillars of the Kingdom’s economic growth.

The logistics sector is at the forefront of these industries, supported by the ambitious objectives of Saudi Vision 2030 and the rapidly growing demand for modern infrastructure.

By combining the capabilities of RIKAZ Properties, Logistiya and Innovest, we aim to develop institutional-grade logistics assets in accordance with international standards, create sustainable value for investors and contribute to strengthening the Kingdom’s competitiveness as a global logistics hub.”

Mr. Mohammed Al-Khars, Chairman of Innovest, added:

“Since the establishment of Logistiya, our objective has been to build a specialised national platform capable of developing high-quality logistics projects that meet the growing needs of the market.

Our partnership with RIKAZ Properties represents a pivotal milestone in the company’s journey, bringing together development expertise, investment capabilities and a long-term strategic vision.

We are confident that this partnership will accelerate the delivery of our projects, expand the scale of our operations and create added value for our clients and partners, while Innovest continues to serve as a strategic partner supporting the next phase of growth.”

The partnership is expected to establish a scalable national platform that combines capital, operational expertise and development capabilities. It will contribute to the development of world-class logistics infrastructure, enhance supply chain efficiency, support the Kingdom’s economic diversification objectives and further strengthen Saudi Arabia’s position as a leading global logistics hub.