DUBAI, UAE: GFH Partners, a subsidiary of GFH Financial Group, has acquired a diversified logistics and industrial portfolio worth $150 million in Saudi Arabia and the UAE.
The portfolio includes light industrial and cold storage facilities, distribution centers, and warehousing assets that are leased to a mix of international and regional tenants, including blue-chip companies.
The acquisition is driven by the growth of KSA’s non-oil sector GDP which is expected to grow by 5.9% in 2023 and more than 4% in 2024.
Similarly, the UAE’s economy anticipates a 3% growth in 2023 followed by a 4% growth the following year, driven by non-oil sectors as well.
GFH Partners’ GCC logistics platform includes development plans for logistics and light industrial facilities in partnership with leading local developers to capitalize on the continued growth forecasted.