Brookfield’s acquisition marks a step into the logistics sector in the Middle East region
Brookfield Asset Management, through one of its private real estate funds, today announced that it has acquired a controlling stake in Gulf Islamic Investments’ logistics real estate platform. The portfolio, comprising 1.5M sq. ft. of high quality warehouses in the UAE, marks the company’s foray into the logistics sector in the region. The firm 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.”
Mohammed Alhassan and Pankaj Gupta, GII’s co-founders and co-CEOs, commented: “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.”
Brookfield, along with its partners, owns and operates 3M sq. ft. 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 80M sf across five continents.
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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