FIRM FROM THE UAE BUYS LOGISTIC CENTER AMAZON IN EUROPE for 144 million dollars.
Gulf Islamic Investments (GII) from the UAE declared obtaining of Amazon logistics centers, with a total area of about 1 million square feet at the price of $ 144 million.
According to the company’s assertion, two Class A logistics centers located in Germany, in Dortmund, are key for Amazon, of which goods are distributed to other facilities.
The centers are rented to Amazon on a long-term basis. Mohammed Al-Hassan, co-founder and CEO of GII, said: “The GII strategy for real estate investment is purchasing of reliable commercial assets. In our opinion, this deal absolutely fits with our investment strategy. ”
“Dortmund is favorably located from a strategic point of view and is one of the most favorable cities for the location of a logistics center in Europe. In Germany, about a quarter of the EU’s GDP is produced, in this country one can observe high investment activity, it is safe here, and the level of income of the population is high”. Mohammed Al-Hassan reaffirmed GII’s intention to continue to acquire high-quality assets that generate a stable revenue: real estate in the US, Britain and Germany.