Investcorp set to invest $1bn in GCC real estate over next five years

Investcorp, a Bahrain-based asset manager which counts Mubadala Investment Company as its
biggest shareholder, announced today that it 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 Saudi Arabia. The investment is a new, state-
of-the-art, 215,000 square feet temperature-controlled warehouse located in Dammam. This is the
first $100 million-worth of real estate investments the firm is currently assessing in the Kingdom of
Saudi Arabia.
The Dammam warehouse is fully leased to Racking Systems Logistics Services Company (also
known as “RTL”), a third-party logistics company which serves the Saudi market in the temperature-
controlled warehousing and distribution segment.
The investment in the Dammam warehouse – which can store up to 32,000 pallets of goods – will
bring the value of Investcorp’s global warehousing logistics investments to over $4 billion,
representing approximately 42 million square feet of industrial space.
Hazem Ben-Gacem, Co-Chief Executive Officer of Investcorp, commented, “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
we are planning to make in the near future – to invest $1 billion over the next five years.”
Babak Sultani, Head of GCC Real Estate at Investcorp, said, “Our first acquisition of a warehouse
facility in the GCC expands on our recent activity in the region where we see long-term growth
dynamics, particularly in the Saudi Arabian market. We have ambitious plans across diversified real
estate sectors that support healthcare, education, entertainment, consumer goods, tech-enabled
services, manufacturing, transport and logistics, and industrial services.”


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