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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The Honeywell CT47 mobile computer is designed to provide reliable performance, 5G data connectivity and enhanced communications capabilities, giving workers one powerful device to complete tasks in the supply chain – from picking and packing to delivery. The solution will be on display at GITEX 2023 in Dubai.

“Workers on the frontline in transportation, logistics and warehousing are demanding users of their mobile devices. What businesses really need is a tough, dependable and easy-to-use device that can help these workers get more done, all while being efficient,” said Taylor Smith, vice president and general manager of voice automation in Honeywell’s Productivity Solutions and Services business. “The CT47 helps those on the front line accomplish tasks accurately and efficiently and enables companies to achieve a more seamless supply chain. It’s not just a tool, it’s a mission-critical solution for warehouse, distribution centre and logistics businesses.”

In industries undergoing digital transformation, such as warehouses, technology is becoming increasingly indispensable for workers to be able to carry out their tasks effectively. The introduction of 5G connectivity brings internet-based computing and devices closer to the endpoints and systems, including the workforce within these facilities.

With 5G, work tasks, productivity insights and worker collaboration will seamlessly occur in real time, offering swift access to data insights and accommodating numerous devices on the network simultaneously. This transformative shift in connectivity empowers workers to harness the full potential of technology, enhancing their efficiency and productivity in the evolving digital landscape of the supply chain.

The Middle East is experiencing a growing need for enhanced warehouse efficiency, a crucial factor in enabling workers to achieve greater speed and effectiveness in distribution. Warehouses play a pivotal role in both the retail sector and in serving the needs of digital enthusiasts, as nearly nine out of every ten customers in the region intend to continue making online purchases, a trend that has persisted since the onset of the pandemic.

The e-commerce market is thriving, driven by a steadfast commitment to meeting customer demands for convenience. This consumer demand has given rise to a need for mobile workers to have cutting-edge tools and actionable insights to effectively handle the rapid expansion of tasks and workflows across various industries. A recent report unveiled that in 2022, the Middle East and North Africa region’s e-commerce market surged to a staggering US $37 billion in size, a double-digit growth rate compared to 2021 and an impressive 32% compound annual growth rate from 2018 to 2022.

GITEX attendees can see Honeywell’s CT47 as well as other offerings at Hall 5, Stand B1 at the Dubai World Trade Center (DWTC).

Honeywell has been operating in the Middle East for more than 70 years, creating value for customers and ultimately supporting long-term national development visions and economic diversification. To learn more about the latest solutions that improve productivity, promote workplace safety and optimize asset performance for industries across the globe, visit sps.honeywell.com.

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