Riyadh — Mubasher: Hamad Mohammed Bin Saedan Real Estate Company has signed a non-binding memorandum of understanding (MoU) with Bloom Investment Saudi Arabia to establish a specialized real estate vehicle named the HS Logistics Fund.
The fund will focus on the acquisition and development of land in Riyadh covering an estimated area of 130,276 square meters.
The project carries an initial estimated total cost of SAR 325 million. Under the terms of the agreement, Hamad Mohammed Bin Saedan Real Estate will serve as the developer, receiving fees equivalent to 11.50% of actual development costs.
The planned development includes both dry and refrigerated warehouse facilities intended for operation and eventual sale as income-generating assets.
The fund is structured for a three-year duration, which may be extended for an additional 2 years.
A private placement for the fund is proposed for November or December 2026, pending approval from the Capital Market Authority (CMA).
The MoU remains valid for six months or until the fund’s formal establishment is complete. There are no related parties involved in the transaction, and the company stated there is no immediate financial impact at this stage.
