GII Secures $100 Million for Regional Expansion
Among the investors is Saudi Arabia’s Al Nahdi Family Office.
Dubai-based Gulf Islamic Investments (GII) has raised $100 million from investors to fuel its expansion plans across the Middle East and India, Bloomberg reported.
Among the investors is Saudi Arabia’s Al Nahdi Family Office, the owner of Nahdi Medical Co., Saudi Arabia's largest pharmacy chain with over 1,000 branches. The family office joins others in providing growth capital to GII.
Founded in 2014, GII currently manages assets worth $4.5 billion and has recently focused on acquiring and developing facilities for transport and e-commerce companies in the Gulf. Last year, Brookfield Asset Management acquired a controlling stake in GII’s logistics real estate platform, comprising 1.5 million square feet of warehouses in the UAE.
A recent report from MAGNiTT showed that Saudi Arabia has maintained its position as the top recipient of venture capital funding in the Middle East and North Africa (MENA) region, securing $412 million in the first half (H1) of 2024.
This is the second consecutive year the kingdom has led the region, despite a 7% decline in year-on-year (YoY) funding.
Saudi Arabia, propelled by Vision 2030--the country's blueprint to diversify its economy away from oil--is driving ongoing government investments in large-scale infrastructure projects and enhancing infrastructure and services to meet the needs of its growing population.
