Published 02 January 2018
UAE-based financial services firm Gulf Islamic Investments (GII) has purchased Amazon’s logistics facilities in Germany for $144m.
GII has acquired two logistics centres in Dortmund, which cover around one million ft² of area.
The company has entered into a long-term lease agreement with Amazon for newly built facilities.
The logistics facilities will help Amazon to distribute goods to 29 other plants.
GII co-founder and CEO Mohammed Al-Hassan: “GII’s real estate investment strategy is to have an exposure to good yielding commercial assets with investment grade tenants. We believe this transaction perfectly matches our investment strategy.
“Dortmund offers a strategic location for a high-growth market and is one of the most important logistics hubs in whole Europe. Germany also produces about one-quarter of the EU’s GDP, with investment safety rates and remarkable returns.”
Regulated by the Emirates Securities and Commodities Authority (ESCA), GII manages $2.5bn in assets and raised $1bn in equity.
The company invests in various sectors such as industrial, manufacturing, retail, transportation and logistics, healthcare, education, conventional and renewable energy, technology, tourism and financial services.
Amazon is an American electronic commerce and cloud computing company based in Seattle of Washington.
The company is claimed to be the largest Internet retailer in the world measured by revenue and market capitalization, and second largest after Alibaba Group in terms of total sales.
Image: Gulf Islamic Investments has acquired Amazon’s logistics facilities in Germany. Photo: courtesy of Stuart Miles / FreeDigitalPhotos.net.
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