Arcapita purchases $150m in Dubai logistics assets

Global investment management firm Arcapita said the transaction, together with the eight warehousing facilities it acquired last year in the Al Quoz Industrial Area of Dubai, is bringing the value of its UAE logistics portfolio to $250 million.    Global investment management firm Arcapita has acquired a portfolio of income-generating logistics assets in Dubai for a total transaction value of $150 million, the company said Tuesday.
   The transaction, together with the eight warehousing facilities Arcapita acquired last year in the Al Quoz Industrial Area of Dubai, is bringing the value of the company’s UAE logistics portfolio to $250 million.
   The new portfolio will consist of up to ten warehousing facilities occupying a total built-up area in excess of 1.2 million square feet, primarily in the Dubai Investments Park, the Middle East’s largest integrated mixed-use industrial, commercial and residential zone, Arcapita said.   
   Arcapita CEO Atif Abdulmalik said the company aims to capitalize on the UAE’s burgeoning logistics sector, which is increasingly being driven by e-commerce growth and the rise in regional trade.