However, this is not the first acquisition made by the company in the Middle East. In Dammam, Saudi Arabia, Investcorp has already bought a huge 215,000 sq. ft warehouse. The number of pallets for storing various goods is 32,000, and the main feature of this warehouse is the temperature monitoring and control function. This property is one of the first investments in Saudi Arabia with a price of USD 100 million.
The ability to store such a large number of goods and items in the warehouse fuels the company's USD 4 billion investment in warehouse logistics.
According to Investcorp co-chief executive officer Hazem Ben-Gacem, they have gained vast experience in the countries of Europe, the USA and India, in the field of logistics, which they will use in this project. And they will not rest on their laurels.
In September last year, another major investment by Investcorp took place. Investcorp Gulf PRE-IPO growth fund led a round to raise investor funds for one of the leading logistics and transportation companies in the UAE and other countries of the Arabian Gulf, TruKKer Holding Limited. The amount of investment in this company amounted to USD 100 million.
The leader of GCC real estate company Babak Sultani said they have a successful investment in a warehouse facility and they see the prospect of expanding activities in this zone. For healthcare, entertainment, transportation system, logistics, education, services and manufacturing, among many others, the company has already prepared an active action plan.