Riyadh - Muasher: SAL Saudi Logistics Services Company signed a final lease agreement with Sela Company for 1.57 million square meters (m²) in Falcon City, north of Riyadh, on 7 October.

The 30-year deal includes a 15-year extension option and a three-year grace period from the date of handover or notification, according to a bourse disclosure.

The contract includes a one-time fee of SAR 25 million, an annual lease of SAR 16 per m² with a 1.50% escalation, and post-grace period community service fees.

Meanwhile, the total estimated investment for planning, construction, and operation of the logistics zone is SAR 4.20 billion.

The move aligns with the SAL Saudi Logistics’ strategy to diversify income and expand in the transportation and logistics sector.

The preliminary agreement was announced on 18 March 2025.

In the first half (H1) of 2025, SAL registered net profits valued at SAR 315.33 million, an annual drop of 13.34% from SAR 363.89 million.