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Alandalus Property Unit Buys $22 Million Riyadh Land Plot for Logistics Project

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Saudi real estate developer Alandalus Property announced that its subsidiary, Marafiq Alandalus Allujistiyah, acquired a 44,550-square-meter land parcel in Riyadh's Al Mashael District. The purchase was made from Ahmad Suleiman AlFahad wa Awladuh Company for SAR 83.8 million, or approximately $22 million.

The company plans to construct logistics warehouses and related facilities on the site. This acquisition aligns with Alandalus Property's 2026–2030 corporate strategy, which focuses on broadening its investment portfolio and growing its footprint in the logistics sector. Funding for the transaction was secured using internal cash reserves along with bank facilities.

Alandalus Property expects the financial impact of the transaction to be reflected in its fourth-quarter financial statements for 2026. Investors will monitor upcoming quarterly reports to evaluate the financial effects as development moves forward.

Key points

  • Marafiq Alandalus Allujistiyah acquired 44,550 sqm of land in Riyadh's Al Mashael District.
  • The plot was purchased for SAR 83.8 million ($22 million) from Ahmad Suleiman AlFahad wa Awladuh Company.
  • The site will be developed into logistics warehouses and associated facilities.
  • The transaction advances Alandalus Property's 2026–2030 strategy to expand into logistics.
  • Funding was arranged via internal resources and bank facilities, with financial impact expected in Q4 2026.

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Questions and answers

How much did Alandalus Property pay for the Riyadh land plot?

Alandalus Property acquired the 44,550 sqm plot in Riyadh's Al Mashael District for SAR 83.8 million (approximately $22 million).

What will Alandalus Property build on the acquired Riyadh land?

The land will be used to develop logistics warehouses and associated facilities as part of the company's 2026–2030 expansion strategy.

How was the Alandalus Property land acquisition funded?

The transaction was financed through a combination of internal company resources and bank credit facilities.