{"id":78872,"date":"2024-05-29T00:00:00","date_gmt":"2024-05-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/05\/29\/logipoint-gulf-islamic-investments-establish-a-sar-1-bn-logistics-jv\/"},"modified":"2024-05-29T00:00:00","modified_gmt":"2024-05-29T00:00:00","slug":"logipoint-gulf-islamic-investments-establish-a-sar-1-bn-logistics-jv","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/05\/29\/logipoint-gulf-islamic-investments-establish-a-sar-1-bn-logistics-jv\/","title":{"rendered":"Logipoint + Gulf Islamic Investments establish a SAR 1 bn logistics JV"},"content":{"rendered":"

Logipoint + GII launch a SAR 1 bn logistics JV:<\/strong> Saudi Industrial Services Company subsidiary Logipoint<\/a> and Dubai-based private equity firm Gulf Islamic Investments (GII<\/a>) inked a SAR 1 bn (USD 300 mn) agreement to establish a joint venture logistics company to provide \u201cgrade A warehousing solutions\u201d in the Kingdom, according to a joint press release<\/a>. No information was provided about the ownership structure of the potential JV.<\/p>\n

The pitch:<\/strong> The JV aims to provide \u201cwarehousing and handling facilities as the backbone of a multi-asset logistical network serving companies across the Kingdom.\u201d The new platform will start by serving Riyadh, and Jeddah before expanding to other cities, the statement reads.<\/p>\n

What they said:<\/strong> \u201cOur logistics joint-venture with Logipoint is the latest element of GII\u2019s growth strategy within the Kingdom, which already includes a CMA banking license for GII Saudi Arabia and the acquisition of Emad Bakeries<\/a> in Jeddah within the last two months,\u201d said GII co-CEO Pankaj Gupta. <\/p>\n

REMEMBER- <\/strong>NYSE-listed Brookfield Asset Management snapped up a majority stake in GII\u2019s logistics business last month<\/a> gaining access to GII\u2019s 1.5 mn sqft of premium warehousing space in the UAE. The acquisition comes as Brookfield looks to invest in and scale the platform through developing its portfolio.<\/p>\n

About the companies:<\/strong> Jeddah-based industrial and logistics real estate developer Logipoint is in the business of investing, managing, and operating bonded and non-bonded logistics parks and zones. Meanwhile, Dubai-based GII is a shariah-compliant private equity firm that specializes in real estate, private equity, and venture capital, with over USD 4.5 bn in assets under management.<\/p>\n","protected":false},"excerpt":{"rendered":"

The move comes less than a month after Brookfield Asset Management snapped up a majority stake in GII\u2019s logistics portfolio<\/p>\n","protected":false},"author":1,"featured_media":78873,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45],"tags":[44,130,31,207,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-investment-watch","tag-logistics-handling","tag-saudi-arabia","tag-storage-warehouses","tag-uae","wpautop","entry"],"acf":{"mongo_id":"d89844ac-4ce1-43de-8f1b-9484082504d8","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/2402.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Logipoint + Gulf Islamic Investments establish a SAR 1 bn logistics JV","related_issue":[78867],"teaser":"The move comes less than a month after Brookfield Asset Management snapped up a majority stake in GII\u2019s logistics portfolio","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.b335f316-0a62-4637-a16b-88dcb1c7ffa7.mp3"},"yoast_head":"\nLogipoint + Gulf Islamic Investments establish a SAR 1 bn logistics JV - 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