Arcapita Group Holdings Limited, the global alternative asset manager, and RIKAZ, a prominent large-scale real estate developer in Saudi Arabia, today announced a partnership to collaborate on the development of a logistics park called The Node in Riyadh, which is designed to meet the specifications of prominent international and regional tenants.
The Node is a 3 million square-metre development poised to become Riyadh’s premier logistics hub. The first phase of the project will cover an area of approximately 400,000 sq m that will house ‘grade A’ warehousing facilities, developed according to global standards by Arcapita and RIKAZ for a variety of commercial tenants.
The project is strategically located in eastern Riyadh, with access to King Khalid International Airport, the Second and Third Ring Roads, Khurais, Dammam, and the Eastern Ring Road, thereby serving as a strong node for tenants to service customers in Riyadh, across the kingdom and is anticipated to generate more than 3,000 job opportunities.
Muhannad Buhindi, managing director at Arcapita Group and chief executive of Arcapita Capital Company, said: “A world-class logistics ecosystem sits at the heart of Saudi Arabia’s Vision 2030, under the auspices of the National Transport and Logistics Strategy.
“Industrial real estate is a critical platform to help better connect Riyadh to regional and international markets and therefore presents a compelling investment opportunity. With an extensive track record of successful industrial and logistics real estate investments in Saudi Arabia and globally, Arcapita is well-positioned to take an active role in developing the kingdom’s logistics ecosystem.
“We are delighted to work with an experienced developer such as RIKAZ on this opportunity and are confident that this partnership will enable us to develop a high-end logistics platform for world-class regional and international tenants.”
Khalid bin Hassan Al-Qahtani, chairman and chief executive of RIKAZ, said: “At RIKAZ, we firmly believe in the power of strategic partnerships. This collaboration aligns seamlessly with RIKAZ’s expansion strategy by fostering partnerships with highly respected institutions like Arcapita. It underscores our commitment to tapping into the significant real estate development in Saudi Arabia, in harmony with the ambitious Vision 2030.
“We are preparing to launch eight new projects during the current year with a total investment of up to 5 billion Saudi riyals. By leveraging this strategic geographic location and the expansive area to facilitate innovative industrial and logistical projects, we firmly believe The Node will play a pivotal role in helping reshape the business landscape in the region.”
Arcapita currently manages $1 billion of industrial real estate assets in the GCC, making it one of the largest industrial real estate asset managers in the region. The company is targeting to double its GCC logistics assets under management to $2 billion by 2025.
Arcapita embarked on its GCC industrial strategy in 2010 by establishing a series of funds dedicated to industrial assets. The company grew its assets under management, by acquiring a diversified base of properties tenanted by a wide range of occupiers including blue-chip international companies, regional leaders, and local players. Today, Arcapita’s logistics real estate portfolio, principally across Saudi Arabia and the United Arab Emirates, consists of a combined built-up area of more than 3.5 million square feet across more than 30 properties, leased to more than 80 local, regional and global tenants.
RIKAZ initiated a series of projects aimed at reshaping the real estate sector, aligning with the goals of Vision 2030. This has led to the steady expansion of its portfolio by acquiring strategically located properties featuring a mix of residential, commercial, and entertainment projects, serving as hubs to a broad spectrum of individuals, leading regional entities, and international companies.
Presently, RIKAZ's real estate portfolio spans vital locations in Saudi Arabia, offering more than 40 million square metres across multi-asset class with a value of 12 billion Saudi riyals, significantly contributing to the evolving urban fabric of the Kingdom.
This pivotal agreement reflects RIKAZ's commitment to leveraging the experiences of global leaders, positioning itself as a pioneer in the region's real estate development. A milestone in the company's expansion strategy within the Saudi market, this partnership aligns with RIKAZ's vision of collaborating with major investors to shape the kingdom's real estate future.
THREE
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Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
DMZ facts
- The DMZ was created as a buffer after the 1950-53 Korean War.
- It runs 248 kilometers across the Korean Peninsula and is 4km wide.
- The zone is jointly overseen by the US-led United Nations Command and North Korea.
- It is littered with an estimated 2 million mines, tank traps, razor wire fences and guard posts.
- Donald Trump and Kim Jong-Un met at a building in Panmunjom, where an armistice was signed to stop the Korean War.
- Panmunjom is 52km north of the Korean capital Seoul and 147km south of Pyongyang, North Korea’s capital.
- Former US president Bill Clinton visited Panmunjom in 1993, while Ronald Reagan visited the DMZ in 1983, George W. Bush in 2002 and Barack Obama visited a nearby military camp in 2012.
- Mr Trump planned to visit in November 2017, but heavy fog that prevented his helicopter from landing.
How it works
A $10 hand-powered LED light and battery bank
Device is operated by hand cranking it at any time during the day or night
The charge is stored inside a battery
The ratio is that for every minute you crank, it provides 10 minutes light on the brightest mode
A full hand wound charge is of 16.5minutes
This gives 1.1 hours of light on high mode or 2.5 hours of light on low mode
When more light is needed, it can be recharged by winding again
The larger version costs between $18-20 and generates more than 15 hours of light with a 45-minute charge
No limit on how many times you can charge
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Meghan%20podcast
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UAE SQUAD
Khalid Essa (Al Ain), Ali Khaseif (Al Jazira), Adel Al Hosani (Sharjah), Mahmoud Khamis (Al Nasr), Yousef Jaber (Shabab Al Ahli Dubai), Khalifa Al Hammadi (Jazira), Salem Rashid (Jazira), Shaheen Abdelrahman (Sharjah), Faris Juma (Al Wahda), Mohammed Shaker (Al Ain), Mohammed Barghash (Wahda), Abdulaziz Haikal (Shabab Al Ahli), Ahmed Barman (Al Ain), Khamis Esmail (Wahda), Khaled Bawazir (Sharjah), Majed Surour (Sharjah), Abdullah Ramadan (Jazira), Mohammed Al Attas (Jazira), Fabio De Lima (Al Wasl), Bandar Al Ahbabi (Al Ain), Khalfan Mubarak (Jazira), Habib Fardan (Nasr), Khalil Ibrahim (Wahda), Ali Mabkhout (Jazira), Ali Saleh (Wasl), Caio (Al Ain), Sebastian Tagliabue (Nasr).
COMPANY%20PROFILE
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
SPECS
Engine: Two-litre four-cylinder turbo
Power: 235hp
Torque: 350Nm
Transmission: Nine-speed automatic
Price: From Dh167,500 ($45,000)
On sale: Now
If%20you%20go
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If you go
The flights
Emirates flies from Dubai to Funchal via Lisbon, with a connecting flight with Air Portugal. Economy class returns cost from Dh3,845 return including taxes.
The trip
The WalkMe app can be downloaded from the usual sources. If you don’t fancy doing the trip yourself, then Explore offers an eight-day levada trails tour from Dh3,050, not including flights.
The hotel
There isn’t another hotel anywhere in Madeira that matches the history and luxury of the Belmond Reid's Palace in Funchal. Doubles from Dh1,400 per night including taxes.
Final results:
Open men
Australia 94 (4) beat New Zealand 48 (0)
Plate men
England 85 (3) beat India 81 (1)
Open women
Australia 121 (4) beat South Africa 52 (0)
Under 22 men
Australia 68 (2) beat New Zealand 66 (2)
Under 22 women
Australia 92 (3) beat New Zealand 54 (1)
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
List of alleged parties
May 12, 2020: PM and his wife Carrie attend 'work meeting' with at least 17 staff
May 20, 2020: They attend 'bring your own booze party'
Nov 27, 2020: PM gives speech at leaving party for his staff
Dec 10, 2020: Staff party held by then-education secretary Gavin Williamson
Dec 13, 2020: PM and his wife throw a party
Dec 14, 2020: London mayoral candidate Shaun Bailey holds staff event at Conservative Party headquarters
Dec 15, 2020: PM takes part in a staff quiz
Dec 18, 2020: Downing Street Christmas party
england euro squad
Goalkeepers: Dean Henderson (Man Utd), Sam Johnstone (West Brom), Jordan Pickford (Everton)
Defenders: John Stones (Man City), Luke Shaw (Man Utd), Harry Maguire (Man Utd), Trent Alexander-Arnold (Liverpool), Kyle Walker (Man City), Tyrone Mings (Aston Villa), Reece James (Chelsea), Conor Coady (Wolves), Ben Chilwell (Chelsea), Kieran Trippier (Atletico Madrid)
Midfielders: Mason Mount (Chelsea), Declan Rice (West Ham), Jordan Henderson (Liverpool), Jude Bellingham (Borussia Dortmund), Kalvin Phillips (Leeds)
Forwards: Harry Kane (Tottenham), Marcus Rashford (Man Utd), Raheem Sterling (Man City), Dominic Calvert-Lewin (Everton), Phil Foden (Man City), Jack Grealish (Aston Villa), Jadon Sancho (Borussia Dortmund), Bukayo Saka (Arsenal)
Honeymoonish
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Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
The%20specs
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COMPANY%20PROFILE
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Voices: How A Great Singer Can Change Your Life
Nick Coleman
Jonathan Cape
