The senior executives of Investcorp, headquartered in Bahrain, have said they want to complete a real estate deal in Saudi Arabia later this year.
Firm officials told Reuters the company’s acquisition of warehouses in the Kingdom would be announced in the coming weeks, without providing details on the size of the investment.
Investcorp, which at the end of June managed 10 billion dollars of asset real estate, has pursued an investment-based strategy in real estate sub-sectors which has protected its portfolio from global market volatility and the repercussions of the Covid-19 pandemic.
“We decided years ago to see in which real estate sub-sectors should we be. The Covid pandemic has been a really big test for our portfolio and its resilience,” Investcorp CEO Mohammed Al-Ardhi told Reuters.
“We focused on the sectors related to family housing, which is a huge market in the US, and the industrial side of real estate,” he added. in an interview on the sidelines of the Abu Dhabi financial week.
Rishi Kapoor, Co-CEO of Investcorp, said there is growing awareness among companies around the world of the importance of developing more flexible supply chains, which improves investment opportunities in logistics distribution centers, including warehouses, for example.
Investcorp, which has assets of $43 billion, is expanding its business in the GCC and in Asia, but says it will remain committed to the US market.
Al-Ardhi said: “It is a difficult environment, in light of the political situation, high interest rates and inflation, but we still see opportunities and continue to pump in investments. We are increasingly active in the Gulf.”
Investcorp conducted a $67 million investment earlier this month in Global Dental Services in India, its fourth healthcare investment in the country.
It is also strengthening its business in China. In October, the company announced a $500 million fund with Fang Capital that will be based in Hong Kong and will invest in company a media capitalization.
“In the long run, nothing has changed in the fundamentals in China. So we continue to invest in the country,” Ardhi added, noting that Investcorp will focus on technology, healthcare and consumer-related businesses.
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