$1 billion to be invested in GCC real estate by Investcorp in five years
Bahrain-based Investcorp, which counts Mubadala Investment Company as its biggest shareholder, announced today that it will invest $1 billion in the GCC real estate market. It follows Investcorp’s first real estate purchase in Saudi Arabia. The investment consists of a new, state-of-the-art, 215,000 square foot temperature-controlled warehouse located in Dammam. This is the first $100 million-worth of real estate investment that the firm is currently evaluating in the Kingdom of Saudi Arabia.
It is fully leased to Racking Systems Logistics Services Company (also known as “RTL”), a third-party logistics company serving the Saudi market in the area of temperature-controlled warehousing and distribution. As a result of the investment in the Dammam warehouse – which can store up to 32,000 pallets of goods – Investcorp’s global warehousing and logistics investments will exceed $4 billion, which equates to approximately 42 million square feet of industrial space.