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DUBAI: Shariah-compliant investor Arcapita has been appointed as an advisor to HSBC �������� for a $150 million (SR562.5 million) investment fund that will target logistics and warehouse assets in �������� 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 �������� and UAE logistics sectors are ranked the third and fifth most attractive within emerging markets, according to the Agility Logistics Market Index.
��������’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, �������� and the UAE remain key markets for Arcapita,” said Martin Tan, Arcapita’s Chief Investment Officer.