-
Bahrain-based Investcorp will invest $1 billion in GCC real estate over the next five years, with $100 million already under consideration for Saudi Arabia. This includes the alternative investment company’s first real estate acquisition in Saudi, a 215,000 sq.ft. warehouse in Dammam, which was announced last year.
-
“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,” said Hazem Ben-Gacem, co-CEO of Investcorp.
-
Investcorp disclosed that this is the first in a series of investments that the company is planning to make in the near future. The acquisition follows the company’s other recent investment in the GCC logistics sector as its Gulf Pre-IPO Growth Fund led a $100 million financing round in TruKKer Holding Limited in September 2022.