Investcorp, a leading global alternative investment firm, is planning to invest up to $1 billion in the real estate market in the GCC over the next five years.
This follows Investcorp’s first real estate acquisition in the Kingdom of Saudi Arabia in a warehouse located in Dammam. This is the first of $100 million worth of real estate investments that the firm is currently assessing in the Kingdom of Saudi Arabia.
“The Saudi Arabian real estate market is experiencing strong growth. The logistics and industrial sectors have enormous potential as key pillars of Saudi Arabia’s Vision 2030 agenda to transform the Kingdom into a leading industrial powerhouse and a global logistics hub. Investcorp is a natural partner in this growth journey, and this acquisition leverages our global experience investing in the logistics sector – particularly in the US, Europe and India. This is the first in a series of investments that we are planning to make in the near future – with a view to investing $1 billion over the next five years,” Hazem Ben-Gacem, Co-Chief Executive Officer of Investcorp, stated.
The acquisition follows another recent investment in the GCC logistics sector where last year Investcorp’s Gulf Pre-IPO Growth Fund led a $100m financing round in TruKKer.
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