Oryx acquires UK logistics development

Saudi-based Oryx Real Estate Partners has become the latest Mena firm to expand its UK property portfolio.

Oryx has acquired a 5-acre site in Milton Keynes with the aim of building a 110,000 sq ft logistics facility valued between US$31 and $37 million.

UK firm Pembury Real Estate will act as the development partner for the project which will be Oryx’s first foray into the UK’s logistics sector. The firm has a UK real estate portfolio worth $224 million.

According to Oryx, the acquisition was made on behalf of its Mena investors, including family offices in Saudi Arabia, who are increasingly attracted to the UK property market due to its “attractive pricing, occupier demand trends and stable income producing qualities”.

©2023 funds global mena

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