Key Takeaways
- • Hamad Mohammed bin Saedan Real Estate Company and BLOMINVEST Saudi Arabia signed a non-binding MoU to establish the HS Logistics Fund, a real estate fund targeting logistics development in Riyadh.
- • The fund's estimated total project cost is SAR 325 million (about $87 million), according to reports citing a Tadawul filing.
- • The three-year fund will explore acquiring land plots in Riyadh, covering an estimated 130,276 square meters, for dry and refrigerated warehouse development.
- • The MoU is non-binding, so the fund's structure, final terms and execution remain subject to further agreements.
Summary
Hamad Mohammed bin Saedan Real Estate Company and BLOMINVEST Saudi Arabia have signed a non-binding memorandum of understanding to establish the HS Logistics Fund, a real estate vehicle focused on logistics infrastructure in Riyadh. According to a Tadawul filing cited in press coverage, the fund will study the acquisition of land plots in the Saudi capital and their development into logistics projects comprising dry and refrigerated warehouses.
The initial estimated total cost of the project is SAR 325 million. Reports describe the fund as a three-year vehicle and note that it will cover an estimated land area of 130,276 square meters. Coverage from Argaam Plus and other outlets reported the MoU as a step toward launching the fund, but because the agreement is non-binding, final capital commitments, governance terms and the timing of land acquisitions have not been confirmed in the available material.
The transaction is one of several real estate and investment announcements in the Saudi market reported around the same period, including deals worth more than $50 billion signed at the Future Investment Initiative in Riyadh. The HS Logistics Fund proposal is a relatively small, sector-specific project, but it reflects continued institutional interest in cold-chain and warehousing capacity in the Kingdom.
The initial estimated total cost of the project is SAR 325 million. Reports describe the fund as a three-year vehicle and note that it will cover an estimated land area of 130,276 square meters. Coverage from Argaam Plus and other outlets reported the MoU as a step toward launching the fund, but because the agreement is non-binding, final capital commitments, governance terms and the timing of land acquisitions have not been confirmed in the available material.
The transaction is one of several real estate and investment announcements in the Saudi market reported around the same period, including deals worth more than $50 billion signed at the Future Investment Initiative in Riyadh. The HS Logistics Fund proposal is a relatively small, sector-specific project, but it reflects continued institutional interest in cold-chain and warehousing capacity in the Kingdom.
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