DUBAI: Shariah-compliant investor Arcapita has been appointed as an advisor to HSBC Saudi Arabia for a $150 million (SR562.5 million) investment fund that will target logistics and warehouse assets in Saudi Arabia and the United Arab Emirates.
Bahrain-based Arcapita will identify and assist in the financing and sale of assets, as well as provide services such as asset management, structuring and due diligence to HSBC’s fund, it said in a statement on Monday.
The Saudi Arabia and UAE logistics sectors are ranked the third and fifth most attractive within emerging markets, according to the Agility Logistics Market Index.
Saudi Arabia’s economic reform program, known as Vision 2030, is expected to increase government spending on air and seaport infrastructure, the statement said, as the kingdom tries to reduce its dependence on oil.
“With Saudi Vision 2030 and the resilience and prosperity of the Dubai logistics market, Saudi Arabia and the UAE remain key markets for Arcapita,” said Martin Tan, Arcapita’s Chief Investment Officer.
Arcapita appointed advisor to HSBC Saudi for $150 million logistics fund
Arcapita appointed advisor to HSBC Saudi for $150 million logistics fund
