Dubai-Mubasher: Bahrain-based Arcapita, an Islamic alternative investment firm, acquired a logistics park in Dubai for a total transaction value of around AED 367.31 million ($100 million), according to a statement on Monday.
The park’s site will consist of ten warehousing facilities that will be completed in the third quarter of 2016.
The facilities will be leased to a UAE conglomerate under a long-term master agreement.
“We are excited about this investment which will provide Arcapita and its investors with stable, recurring income as well as potential capital appreciation,” Arcapita’s CEO Atif A. Abdulmalik.
