Investcorp plans to invest up to $1 billion in the GCC real estate market over the next five years.
According to a company statement, today, Tuesday, this comes after Investcorp’s first acquisition of a property in Saudi Arabia, which is a modern, air-conditioned warehouse in Dammam, with an area of 215,000 square feet, and represents the first among real estate deals worth $ 100 million that the company is currently studying and distributing. across several parts of the Kingdom of Saudi Arabia.
She stated that the warehouse is fully leased to Rack Tech Logistics, a third-party logistics company that serves the Saudi market in the warehousing and distribution sector through air-conditioned, temperature-controlled warehouses.
The investment in the Dammam warehouse, which can store up to 32,000 pallets of goods, will bring the value of Investcorp’s global warehouse investments to more than $4 billion, and approximately 42 million square feet of industrial real estate.