Gulf Islamic Investments (GII) has joined forces with Logipoint, a SISCO subsidiary, to initiate a joint venture targeting the establishment of a state-of-the-art logistics platform in Saudi Arabia, with investments surpassing $300 million.
As a prominent developer of industrial and logistics real estate within Saudi Arabia, Logipoint specializes in the investment, management, and operation of bonded and non-bonded logistics parks and zones.
The collaborative venture between GII and Logipoint aims to develop new logistic infrastructures in pivotal Saudi cities, beginning with Riyadh and Jeddah. The project will offer warehousing and handling facilities, serving as the cornerstone of an extensive multi-asset logistics network that will benefit companies throughout the Kingdom.
The alliance marks GII’s second consecutive logistics deal, cementing its status as a foremost Shari’ah-compliant global alternative investment firm, boasting assets under management worth approximately $4.5 billion.
Notably, Brookfield Asset Management recently took a majority share in GII’s logistics business, which is known for providing high-caliber, long-term clients with tailor-made warehousing solutions in the UAE.
“This partnership with GII has opened up a new world of investment opportunities. We are committed to leveraging our expertise in developing logistics zones and parks to drive our expansion strategy,” stated Farooq Shaikh, CEO of Logipoint.
The collaboration aligns with Saudi Arabia’s Vision 2030, positioning Logipoint at the forefront of the nation’s evolution into a preeminent global logistics hub.
Pankaj Gupta, GII’s co-founder and co-CEO, remarked on the strategic nature of the partnership, highlighting its role in extending GII’s logistics operations across Saudi Arabia to support the country’s rapidly growing infrastructure and economy.
Mohammed Alhassan, GII’s other co-founder and co-CEO, emphasized that the logistics joint venture with Logipoint represents a significant addition to GII’s expansion strategy within the Kingdom, which includes a CMA banking licence for GII Saudi Arabia and the recent acquisition of Emad Bakeries in Jeddah.
