GFH expands Saudi logistics portfolio with new SAR 200 mn facility

GFH expands its logistics portfolio in KSA: GFH Partners — the Dubai-based global asset management arm of Bahraini GFH Financial Group — has acquired a fully leased, high-spec logistics facility in Riyadh’s industrial district at a SAR 200 mn (USD 53 mn) investment ticket, according to a press release. The acquisition marks the asset manager’s fourth logistics asset in the Kingdom.

Built different: The facility — spanning over 40k sqm — includes multiple truck docking bays, robust electric capacity, and 12-meter clear heights within its operational space. The hub’s location next to Riyadh’s Eastern and Southern ring roads is set to boost its connectivity to multimodal transport corridors — positioning it as a gateway for major logistics firms, Gulf News reports.

A boon for GFH: Following the acquisition, GFH’s total logistics and industrial assets in the GCC are set to reach nearly SAR 1.5 bn — with its global portfolio currently exceeding SAR 26 bn in managed assets. The firm’s logistics platform now has the capacity to host over 120 tenants across the Kingdom and the UAE — with facilities in Dubai South, Dammam, Riyadh, and Jafza.

A long-time coming: GFH Financial Group inked a partnership agreement last year with European real estate developer Panattoni’s Saudi arm to develop premium logistics facilities worth SAR 2 bn (USD 500 mn) in Riyadh, Jeddah, and Dammam over a five-year timeframe.

GFH’s been making logistics moves: GFH Partners acquired Manrre REIT, a logistics and industrial assets fund registered with Nasdaq Dubai’s share depository, for USD 75.5 mn, becoming its sole fund manager in January. The asset manager closed a USD 300 mn logistics and industrial fund in the United States last July.