News

Investcorp sets sights on real estate market

Jan 13, 2023 By Nik Pratt
Bahrain, InvestcorpBahrain-based alternatives firm Investcorp is set to allocate US$1 billion to the GCC’s real estate sector over the next five years. At the centre of these plans is Saudi Arabia, with $100 million already under consideration for investment in the kingdom’s property market. Investcorp’s first real estate acquisition is a warehouse in Dammam that was completed last year. According to Hazem Ben-Gacem, Investcorp’s co-CEO, the Saudi real estate market is experiencing “strong growth”, and the logistics and industrial sectors “have enormous potential as key pillars of Saudi Arabia’s Vision 2030 agenda”. “We have ambitious plans across diversified real estate sectors that support healthcare, education, entertainment, consumer goods, tech-enabled services, manufacturing, transport and logistics, and industrial services,” added Babak Sultani, head of GCC real estate at Investcorp. ©2023 funds global mena

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