(MENAFN- The Arabian Post)
Investcorp, a leading global alternative investment firm, 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 the Kingdom of Saudi Arabia. The investment is a brand new, state-of-the-art, 215,000 square feet temperature-controlled 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 Dammam warehouse is fully leased to Racking Systems Logistics Services Company, 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.
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