At the beginning of the month, Brookfield Asset Management secured a significant interest in the Gulf Islamic Investments’ (GII) logistics operations, offering tailored warehousing services to premium clients within the UAE.
Dubai (UAE): Gulf Islamic Investments (GII) has announced a partnership with Logipoint, a subsidiary of SISCO, to establish a joint venture aimed at developing a logistics platform to deliver Grade A warehousing solutions throughout the Kingdom of Saudi Arabia. This venture, valued at over SAR 1 billion (approximately $300 million), marks a significant investment in the nation’s logistic infrastructure.
Renowned in Saudi Arabia for its expertise in developing and managing logistic parks and zones, Logipoint’s collaboration with GII will initiate the construction of new logistic facilities in strategic cities such as Riyadh and Jeddah. These facilities will offer warehousing and handling services, forming the foundation of an extensive logistical network to support businesses across the Kingdom.
GII, a global leader in Shari’ah-compliant investment with more than $4.5 billion in assets under management, has swiftly succeeded in another logistics deal following the recent acquisition by Brookfield Asset Management. GII’s logistic ventures began in Germany with the purchase of a one-million-square-foot fulfillment center and have since expanded to several facilities in Dubai, catering to top-tier clients.
Pankaj Gupta and Mohammed Alhassan, GII’s co-founders and co-CEOs, highlighted the joint venture’s alignment with GII’s expansion strategy in Saudi Arabia. This includes financial sector growth with a CMA banking license and the recent acquisition of Emad Bakeries in Jeddah.
Farooq Shaikh, CEO of LogiPoint, expressed enthusiasm for the partnership with GII, emphasizing its alignment with Vision 2030 objectives to position Saudi Arabia as a premier global logistics hub.
About Gulf Islamic Investments
Gulf Islamic Investments Group (GII) is a global leader in Shari’ah-compliant alternative investment, managing over $4.5 billion in assets. GII is committed to sustainable, value-generating investment opportunities for its stakeholders. The company operates across various asset classes, including real estate, private equity, and venture capital, serving an extensive network of clients in the GCC and Asia. GII is headquartered in the UAE and is regulated by several financial authorities in the region.
About LogiPoint:
Founded in 1999, LogiPoint has established itself as a pioneer in logistics real estate development in Saudi Arabia. Initially starting as a bonded and re-export zone within the Jeddah Islamic Port, the company has grown into a significant player, contributing to Saudi Arabia’s Vision 2030 goal of becoming a key international logistics center. Today, LogiPoint is headquartered in Jeddah and is a part of the SISCO Holding group.
