Partnership enables expansion of operations for both parties involved
Brookfield Asset Management, through one of its private real estate funds, recently announced that it has acquired a controlling stake in Gulf Islamic Investments’ logistics real estate platform.
“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,” stated Jad Ellawn, Managing Partner, Head of Middle East, Brookfield.
“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,” according to a comment from Mohammed Alhassan and Pankaj Gupta, GII’s Co-Founders and Co-CEOs.
Integrated portfolio
Brookfield, along with its partners, owns and operates 3mn sqft 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 80mn sqft across five continents.
GII, a leading Shari’ah-compliant global alternative investment company established in 2014 with over US$ 4.5bn 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, a press communique concluded.
