The second phase of Node logistics park in Eastern Riyadh has been launched by Saudi real estate developer Rikaz. The phase II of the project spanning an area of 116,000 square meters is estimated by the company that it will fetch sales revenue of US$29 million. The phase I of the logistics park was launched earlier this year with area spanning around 158,000 square meters. The mega logistics complex is being developed at a whopping investment of US$293 million, which is being financed by local Alinma Bank and Alinma Investment company. Earlier this year, Arcapita announced its partnership with Rikaz in the development of the Node logistics park.
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