Bahrain-based Sharia-compliant real estate and private equity player Arcapita has closed a SAR 1.8 bn KSA Logistics Fund III, with participation of unnamed institutional investors and a GCC-based sovereign wealth fund, according to a press release. The raised funds will go towards developing the outfit’s KSA logistics portfolio.

Details: Arcapita has already mobilized a significant portion of the raised funds towards a group of real estate investments in the Kingdom’s manufacturing and warehousing sectors, the statement said. The coming months will see Arcapita implement a pipeline of new assets that are strategically located in Riyadh, Jeddah, and the Eastern Province.

Arcapita is not new to the region’s logistics sector, with some SAR 3.8 bn in industrial warehousing assets under the company’s management in the GCC, Arcapita Deputy CEO Hisham Al Raee said. The group’s investors include pension funds, sovereign wealth funds, and financial institutions, Al Raee added.

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