UAE: Gulf Islamic Investments (GII) signed a SAR1 billion (US$266.45 million) agreement with LogiPoint, a subsidiary of Saudi Industrial Services Company, to create warehousing solutions across Saudi Arabia. This partnership is the second recent logistics deal for GII, a leading Shariah compliant global alternative investment company with over US$4.5 billion of assets under management. Earlier this month, Brookfield Asset Management acquired a majority stake in GII’s logistics business providing high-end, long-term clients with bespoke warehousing solutions in the UAE.
This deal comes as DP World and the Saudi Ports Authority began construction of a new SAR900 million (US$240 million) logistics park with storage and distribution facilities at Jeddah Islamic Port. The Jeddah Logistics Park is due to open in Q2 2025.
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