Bahraini asset management company Investcorp plans to invest up to $1 bn in the GCC real estate market in the coming five years, Invest-Gate reports.

The company acquires its first property in Saudi Arabia, which is a warehouse located in Dammam with an area of 215,000 sq. ft.

The recent deal is a part of the company’s $100 mn in investments dedicated to the Saudi market.

The acquisition of Dammam’s warehouse brings Investcorp’s total investments in warehouses globally to over $4 bn, with a total space of around 42 mn sq. ft.

Head of Investcorp Private Wealth, Yusef Al Yusef, reveals that the total value of the company’s assets under management reaches $50 bn, after the acquisition of an American asset manager.