Staff Report,
Dubai, UAE
Brookfield Asset Management, through one of its private real estate funds, announced that it has acquired a controlling stake in Gulf Islamic Investments’ logistics real estate platform. The portfolio, comprising 1.5 million square feet of high-quality warehouses in the UAE, marks Brookfield’s foray into the logistics sector in the region. Brookfield plans to invest and scale the platform overtime through the acquisition and development of high-quality logistics real estate assets.
Jad Ellawn, Managing Partner, Head of Middle East, Brookfield, said, “Our on-the-ground approach to investment and our global relationships have helped us build a portfolio of marquee assets across real estate, infrastructure, and financial services in the region. Given the continued e-commerce and consumption-led growth in the region, we believe there will be exciting opportunities, to leverage our global expertise and provide solutions to our partners in the Middle East.”
Brookfield, along with its partners, owns and operates 3 million square feet of commercial real estate in the region, including ICD Brookfield Place, the region’s premier lifestyle and business address. Brookfield’s logistics fully integrated portfolio spans over 80 million square feet across five continents.
Mohammed Alhassan and Pankaj Gupta, GII’s co-founders and co-CEOs, said, “Our partnership with Brookfield enables us to expand our operations further through investments and acquisitions in the GCC. Due to increasing interconnectivity, the region is witnessing enhanced integration of the Gulf economies, leading to a surge in demand for logistics assets.”
GII, a leading Shari’ah-compliant global alternative investment company established in 2014 with over US$4.5 billion of assets under its management, has been actively investing in logistics real estate assets since 2018. More recently, it has focused on acquiring, aggregating, repurposing, and developing facilities for leading transport and e-commerce companies in the GCC states.
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Also read: Olayan and Lunate acquire 49% stake in ICD Brookfield Place
