Alternative Investment

Investcorp to invest $1bln in GCC real estate in five years

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, and is leased to third-party logistics provider Racking Systems Logistics Services Company (RTL).

The warehouse will be part of Investcorp’s $4 billion warehousing logistics investments globally, the company said today. 

Hazem Ben-Gacem, Co-Chief Executive Officer of Investcorp, said: “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.”

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.”

In September 2022, Investcorp’s Gulf Pre-IPO Growth Fund led a $100 million financing round in TruKKer Holding Limited, a digital freight network, and acquired a majority stake in NourNet, a Saudi Connectivity and ICT services provider.

As of December 2022, Investcorp employs more than 20,000 people across the Kingdom of Saudi Arabia, the company said.

(Writing by Imogen Lillywhite; editing by Seban Scaria)

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