GFH Partners Acquires $150 Million Saudi, UAE Logistics Assets
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GFH Partners Acquires $150 Million Saudi, UAE Logistics Assets

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GFH Partners, a DIFC-based subsidiary of GFH Financial Group, has finalized the acquisition of a $150 million varied and multidimensional logistics and industrial portfolio in Saudi Arabia, which also includes properties in the UAE. According to GFH Partners, the portfolio contains stabilized income-yielding properties and growth prospects located in major logistical zones and industrial locations in the key cities of Riyadh and Dubai.

As per the company, the portfolio includes a mix of light industrial and cold storage facilities, as well as a range of distribution and warehousing assets that are leased to a diverse mix of high quality, blue chip, international, and regional tenants.

Announcing the key acquisition, CEO Nael Mustafa said the opportunity to invest in Saudi based logistics is driven by the growth of KSA’s non-oil sector GDP which is expected to grow by 5.9% in 2023 and more than 4% in 2023. Similarly, the UAE’s economy anticipates a 3% growth in 2023 followed by a 4% growth the following year, driven by non-oil sectors as well, as per zawya. 

According to him, the sustained strength of Dubai's position as a logistics center is fueled by continued high demand for container and trade volumes in major zones such as Jebel Ali, Dubai South, and Dubai Investment Park.

"Combining high-quality, income-generating facilities and development opportunities, the acquisition is well-positioned to capture opportunities arising from the current expansion of the GCC logistics sector - particularly in Saudi Arabia, where the Kingdom’s Vision 2030 is driving the rapid modernization and development of the country’s transportation and logistics industry to diversify its economy and shift its dependency away from the oil industry," remarked Mustafa.

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