Arcapita Capital Company, a subsidiary of Arcapita Group Holdings Limited, announced on Wednesday that it has closed KSA Logistics Fund III for SAR1.8 billion ($500 million).

The fund was backed by a leading sovereign wealth fund from the GCC region and other major institutional investors.

Arcapita Group has already invested a significant portion of the fund in a portfolio of industrial real estate assets across the manufacturing and warehousing sectors.

The company plans to invest the rest of the fund in strategically located assets across Riyadh, Jeddah, and the Eastern Province.

Arcapita will also develop long-term off-take arrangements with tenants, by taking a built-to-suit approach.

This fund is in alignment with Arcapita’s strategy of bringing its international expertise in industrial real estate to the Kingdom’s industrial sector to support its ambitions of becoming a global logistics hub.

Hisham Al Raee, Deputy CEO of Arcapita Group, said, “Today marks an essential milestone in our strategic expansion in Saudi Arabia, the largest economy in the MENA region.

We currently manage over SAR3.8 billion ($1 billion) of industrial warehousing assets in KSA and the GCC region, and our investor base includes pension funds, sovereign wealth funds, and financial institutions.

The industrial and logistics sectors are key components of the Kingdom’s Global Supply Chain Resilience Initiative, which aims to attract SAR 40 billion ($10.6 billion) in investments.

We look forward to continuing to deploy our expertise in the industrial real estate sector to play a key role in transforming the Kingdom into a global logistics hub.”

Yousif Al Abdulla, Managing Director and Head of MENA Investment at Arcapita Group, has expressed his optimism towards the growth of Saudi Arabia’s industrial real estate market.

He believes that the market will experience substantial growth over the long term, driven by the significant and continued growth of e-commerce across the Kingdom and by strong government-led investment in infrastructure and the industrial sector.

Arcapita Group’s portfolio strategy will leverage opportunities presented by the National Industrial Development and Logistics Program, as well as the Kingdom’s Vision 2030 plan.

Arcapita Group’s management team has managed more than SAR24.3 billion ($6.5 billion) in industrial and logistics real estate transactions globally, including over SAR5.6 billion ($1.5 billion) in the GCC region, over the past 25 years. Furthermore, Arcapita Group has a strong track record of investing in the Kingdom, with nearly SAR1.5 billion ($400 million) in investments over the past 10 years.

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• Tahakom
• Dahua Technology.
• Carrier Corporation
• Softbank Group.

These companies have decided to collaborate towards accelerating the adoption of sustainable manufacturing processes, to reach carbon neutrality in their output.

Amit Midha, the global CEO of Alat, emphasized the company’s commitment to transforming the manufacturing industry through sustainable energy practices.

By utilizing renewable energy sources such as solar and wind power, as well as green hydrogen, Alat plans to revolutionize manufacturing by integrating artificial intelligence and technology from the fourth industrial revolution.

Alat has partnered with the following groups to achieve its goals:

• Softbank Group: to establish an industrial automation business in Saudi Arabia.

This joint venture will concentrate on developing innovative industrial robots, with an initial investment of up to $150 million.

The aim is to launch a fully automated manufacturing and engineering facility by December 2024.

• Carrier Corporation: a partnership to establish an innovative manufacturing and research and development facility.

The facility will be dedicated to advancing energy efficiency and reducing emissions in buildings.

This collaboration will bring about the latest HVAC solutions and generate more than 5,000 job opportunities in the local area.

• Dahua Technology Ltd: Alat and Dahua Technology will establish a joint venture, Alat AIVisio Technology Co. Ltd., to manufacture technology products for safety and surveillance applications.

A $200 million investment will support the creation of a state-of-the-art manufacturing facility in Saudi Arabia, focusing on vision-centric products for intelligent cities and enterprises.

• Tahakom: Collaborating with Tahakom, Alat seeks to advance smart mobility and intelligent city solutions aligned with Saudi Arabia’s Vision 2030.

This partnership will drive innovation in Intelligent Transportation Systems (ITS) and Artificial Intelligence (AI), fostering technological advancement in urban development.

Alat plans to innovate across seven business units, encompassing semiconductors, smart devices, smart buildings, smart appliances, smart health, advanced industrials, and next-gen infrastructure.

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On the 29^{th of} January 2024, First deputy ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, Sheikh Maktoum Bin Mohammed bin Rashid Al Maktoum opened Arab Health 2024, the 49^th edition of the largest healthcare exhibition of the MENA region.

The largest gathering of healthcare professionals and businesses in the MENA region is expected to welcome more than 51,000 attendees during the four-day healthcare showcase which takes place at the Dubai World Trade Centre from January 29^th – February 1^st.

This year’s edition of the show is the largest in terms of exhibition space, taking up every hall of the Dubai World Trade Centre with 3450 exhibitors and an expected 110,000 professional healthcare visits from 180 countries.

The Arab Health Congress will feature ten Continuing Medical Education (CME) conferences dedicated to over 23,600 healthcare visitors where they will hear from over 330 expert speakers.

Arab Health 2024 will be supported by various government entities, including the UAE Ministry of Health and Prevention, the Government of Dubai, the Dubai Health Authority, the Department of Health, and the Dubai Healthcare City Authority.

Key partners include the National Healthcare Champion, PureHealth; Premium healthcare partner, American Hospital; Exclusive healthcare partner, Dr Sulaiman Al Habib; Exclusive health services partner, Emirates Health Services; Global health partner, M2; Future health partner, Neom; Innovation partner, GE HealthCare; and Exclusive AI partner, Canon Medical.

Ross Williams, Exhibition Director for informa Markets said, “Arab Health’s standing as the premier healthcare trade show in the region is based on its comprehensive approach, global reach, unwavering commitment to innovation, and the opportunities it provides for learning, networking, and collaboration within the healthcare sector – ultimately delivering the ultimate healthcare experience”.

He also commented “With a sharp focus on groundbreaking technology and transformative products enhancing patient care, the next four days promise to be a catalyst for the future of healthcare in the region and on a global scale. This impact is amplified by our international reach and the exceptional calibre of exhibitors showcased, making it a game-changing event for the industry worldwide.”

CEO of Dubai Healthcare City Authority, Dr Ramadan Al Balooshi outlined a vision for a “New Era of Public Health”, while the World Health Organization’s Dr Noor Hisham Abdullah highlighted the lessons learnt during COVID-19 and the importance of leadership.

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