Riyadh – Mubasher: Alandalus Logistics Facilities Company, a subsidiary of Alandalus Property Company, has acquired a plot of land in Riyadh's Al Mashaal district for SAR 83.80 million.

The transaction, signed on 18 October 2026, includes real estate transaction tax and brokerage fees.

The 44,550-square-meter site was purchased from Ahmed Suleiman Al-Fahad and Sons Company.

Alandalus Property intends to develop the land into high-quality logistics warehouses to meet market storage requirements.

The acquisition is a key component of the company’s 2026-2030 strategy, which focuses on diversifying its investment portfolio and expanding its footprint within the logistics sector.

The company confirmed that the purchase will be funded through a combination of internal financial resources and existing bank facilities.

Alandalus Property expects the financial impact of this transaction to be reflected in its financial statements during the fourth quarter (Q4) of 2026.

Management stated that the move aims to increase revenues and deliver added value to shareholders through expanded operational activities.

In the first half (H1) of 2026, the listed company turned profitable at SAR 12.31 million, compared to a net loss of SAR 10.97 million during the same period in 2025.