GFH Partners Limited, a subsidiary of GFH Financial Group, has completed its acquisition of a logistics portfolio worth $150 million, a multi-disciplinary logistics and industrial portfolio in Saudi Arabia and the UAE.
According to a GFH statement, the portfolio consists of income-generating assets, in addition to real estate development opportunities, and is located in the strategic logistics and industrial areas in the cities of Riyadh and Dubai.
The portfolio includes a mix of light industrial and cold storage facilities, as well as diverse distribution and warehousing assets, leased to a mix of high-quality, major tenants as well as international and regional tenants.
GFH Partners believes that the opportunity to invest in logistics assets located in Saudi Arabia will benefit from the growth in the gross domestic product of the non-oil sectors in the Kingdom, which is expected to reach 5.9% in 2023 and more than 4% in 2024.
The company also pointed to good investment opportunities in the UAE, which is expected to grow by 3% in 2023 followed by 4% the following year, driven by non-oil sectors as well.