Monday, May 27, 2024

Investcorp plans $1bn Gulf real estate investments

Alts giant Investcorp plans to invest $1bn in Gulf real estate investments in the next five years, starting with $100m slotted for Saudi Arabia.

The development follows Investcorp’s first real estate acquisition in Saudi, a 215,000 square feet warehouse in Dammam.

Hazem Ben-Gacem, co-CEO of Bahrain-based Investcorp, highlighted strong growth in the Saudi Arabian real estate market.

“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 the $1bn planned for the region covered “healthcare, education, entertainment, consumer goods, tech-enabled services, manufacturing, transport and logistics, and industrial services.”

The Bahrain-headquartered firm announced the acquisition of Marble Point Credit Management last month, a $7.8bn CLO manager which will take group AuM past $50bn for the first time.

Marble Point, led by co-founder Thomas Shandell, will fold into Investcorp Credit Management US, the newly-expanded $22bn unit, to be led by Shandell.

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