Investcorp, the financial institution that specializes in alternative investments, has announced that it plans to invest up to $1 billion in the GCC real estate market over the next five years.
This comes after Investcorp's first acquisition of a property in the Kingdom of Saudi Arabia, which is a modern, air-conditioned warehouse in Dammam, with an area of 215,000 square feet. The kingdom.
The warehouse is fully leased to the “RAKTech Logistics” company for logistics services provided by a third party, which serves the Saudi market in the warehousing and distribution sector through air-conditioned warehouses that are temperature controlled.
The investment in the Dammam warehouse - which can store up to 32,000 pallets of goods - will raise the value of Investcorp's investments in warehouses globally to more than $4 billion, and approximately 42 million square feet of industrial real estate.
It should be noted that this acquisition follows Investcorp's investment in the logistics services sector in the GCC countries. In September 2022, the Saudi Pre-IPO Investment Fund led a $100 million investment in Tracker Holdings Ltd., the largest digital freight network in the Middle East and North Africa region.
Investcorp also acquired a majority stake in Nornet, one of the leading providers of communications and information technology services in the Kingdom of Saudi Arabia.
Since the establishment of Investcorp's subsidiary in Saudi Arabia in 2008, the company has listed four Saudi companies on the Tadawul stock exchange, generating more than $40 billion in potential demand from pre-listing marketing at that time.
As of December 2022, Investcorp's portfolio of companies employs more than 20,000 employees across the Kingdom.
