{"id":92500,"date":"2024-05-29T00:00:00","date_gmt":"2024-05-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/gulf-islamic-investments-logipoint-to-launch-a-usd-300-mn-logistics-jv\/"},"modified":"2024-05-29T00:00:00","modified_gmt":"2024-05-29T00:00:00","slug":"gulf-islamic-investments-logipoint-to-launch-a-usd-300-mn-logistics-jv","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/05\/29\/gulf-islamic-investments-logipoint-to-launch-a-usd-300-mn-logistics-jv\/","title":{"rendered":"Gulf Islamic Investments + Logipoint to launch a USD 300 mn logistics JV"},"content":{"rendered":"

GII<\/strong> and Saudi\u2019s Logipoint launch a USD 300 mn logistics JV:<\/strong> Dubai-based private equity company Gulf Islamic Investments<\/a> (GII) and Saudi Industrial Services Company (SISCO) subsidiary Logipoint<\/a> inked a SAR 1 bn (USD 300 mn) agreement to establish a logistics firm that will develop Grade A warehousing solutions in Saudi Arabia, according to a press release<\/a>. The ownership structure of this joint venture was not disclosed.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

The JV will initially focus on serving Riyadh and Jeddah, with plans for expansion to other cities later on. <\/strong>The platform aims to provide \u201cwarehousing and handling facilities as the backbone of a multi-asset logistical network serving companies across the Kingdom,\u201d according to the press release.<\/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 GII co-CEO Pankaj Gupta said.<\/p>\n

About the firms<\/strong>: Logipoint, based in Jeddah, focuses on investing in, managing, and operating bonded and non-bonded logistics parks and zones. GII is a Shariah-compliant private equity firm specializing in real estate, private equity, and venture capital, managing assets worth over USD 4.5 bn.<\/p>\n

REMEMBER- <\/strong>Canada-based Brookfield Asset Management<\/a>acquired<\/a> a controlling interest in GII's logistics division earlier this month. <\/p>\n","protected":false},"excerpt":{"rendered":"

The JV will initially focus on serving Riyadh and Jeddah, with plans for expansion to other cities in the future<\/p>\n","protected":false},"author":1,"featured_media":92501,"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":[1632],"tags":[7,1255,1254,99],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-logistics","tag-enterpriseam-uae","tag-gulf-islamic-investments-gii","tag-logipoint","tag-logistics","wpautop","entry"],"acf":{"mongo_id":"475e9301-913a-42c5-b46c-600d2e96c8b4","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/2367.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Gulf Islamic Investments + Saudi-based Logipoint to launch a USD 300 mn logistics JV","related_issue":[92484],"teaser":"The JV will initially focus on serving Riyadh and Jeddah, with plans for expansion to other cities in the future","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.49bd79cd-1d20-4889-bbbd-14693fb439e3.mp3"},"yoast_head":"\nGulf Islamic Investments + Logipoint to launch a USD 300 mn logistics JV - 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