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Abu Dhabi investment firm Lunate and alternative asset manager Blackstone plan to invest in logistics assets across the GCC through a new platform called the Gulf Logistics Infrastructure Development Enterprise (GLIDE).
Targeting $5 billion in high-quality warehouse assets, the companies seek to accelerate the development of logistics infrastructure in the GCC, focusing on greenfield developments, selective portfolio acquisitions and sale‑and‑leaseback transactions.
Additional partners in the GCC will also participate in the platform, with dedicated teams across the region to support its build-out.
Blackstone and Lunate said the partnership will address a “significant gap” in the availability of Grade A logistics facilities in the region, with the platform aiding the development, acquisition and management of such assets across the GCC.
With $1.2 trillion in assets under management, the US-based Blackstone is the largest owner of logistics assets globally at over 1.2 billion square feet.
(Writing by Bindu Rai, editing by Seban Scaria)
