Investcorp invests $1 billion in Gulf real estate

Investcorp plans to invest approximately $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, 215,000 sq. ft., Saudi Arabia. Hazem Bin Qasim, Co-Chief Executive Officer of Investcorp, said: “The real estate market in Saudi Arabia and the Gulf region is witnessing strong growth. The logistics and industrial sectors have huge potential as two main pillars of Saudi Arabia’s Vision 2030 agenda, which aims to transform the Kingdom into a leading industrial powerhouse and a global logistics hub. Investcorp is a natural partner in this growth path. This acquisition also strengthens our global experience in investing in the logistics services sector, particularly in the United States, Europe and India. This investment is the first in a series of investments we plan to make with a goal of deploying $1 billion over the next five years.”