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  • 30-12-17

    UAE declare $144m acquisition for Amazon logistics centres

    (MENAFN) Gulf Islamic Investments (GII) in UAE is to purchase a $144 million logistics centre from Amazon that is to be almost a million square feet.

    In a statement, the company declared the two Grade A logistics centres to be provided as chief logistics centres of Amazing that provides goods to 29 other facilities.

    "GII's real estate investment strategy is to have an exposure to good yielding commercial assets with investment grade tenants. We believe this transaction perfectly matches our investment strategy," as stated by co-founder and CEO Mohammed Al-Hassan.

    He continued "Dortmund offers a strategic location for a high-growth market and is one of the most important logistics hubs in whole Europe. Germany also produces about one-quarter of the EU's GDP, with investment safety rates and remarkable returns."

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