Abu Dhabi funding agency Lunate, with greater than $110bn in belongings below administration, has joined forces with Blackstone, the world’s largest various asset supervisor, to launch a strategic partnership investing in logistics belongings throughout the Gulf Cooperation Council (GCC).
Underneath the partnership, the corporations will set up Gulf Logistics Infrastructure Improvement Enterprise (GLIDE) — a brand new platform devoted to creating, buying, and managing Grade A logistics belongings all through the GCC.
Blackstone, which owns greater than 1.2bn sq ft of logistics belongings globally, will convey deep expertise within the sector, whereas Lunate contributes an intensive regional community and funding capabilities.
Extra strategic companions from throughout the GCC will be part of the initiative. , Devoted groups throughout the area will help its enlargement.
Abu Dhabi targets logistics development
The companions famous that demand for logistics infrastructure within the GCC is rising sharply, pushed by fast financial development, increasing e-commerce and manufacturing exercise, and government-led diversification initiatives.
On the similar time, the supply of contemporary Grade A logistics services — these constructed to worldwide requirements and excessive operational effectivity — stays restricted, creating vital funding alternatives within the area.
GLIDE is focusing on investments of $5bn (AED18.36bn) in high-quality warehouse belongings.
The platform will focus totally on greenfield developments, complemented by selective portfolio acquisitions and sale-and-leaseback transactions with main regional companies.
‘Profound transformation’ in Abu Dhabi
Jon Grey, President and Chief Working Officer at Blackstone, mentioned: “The profound financial transformation underway within the GCC, pushed by pro-growth insurance policies, beneficial demographic shifts and broad-based financial diversification, is creating highly effective momentum for sectors like logistics.
“We’re thrilled to associate with Lunate to mix our funding experience and deep logistics expertise with their robust GCC presence and capabilities to construct GLIDE, a pan-regional logistics platform at scale.”
Khalifa Al Suwaidi, Managing Accomplice at Lunate, mentioned: “GLIDE will supply our shoppers and buyers entry to driving investments in high-quality logistics belongings and help the event of latest infrastructure to drive development throughout the GCC.
“This partnership combines international scale with regional experience to unlock a market prepared for transformation.”
Strategic significance for GCC development
The partnership aligns with the GCC’s wider push to develop logistics infrastructure as a part of its diversification agenda. By combining Blackstone’s international funding scale and Lunate’s native experience, GLIDE goals to form the following era of regional logistics hubs.