ESR targets 3 million sqm in Middle East logistics expansion

The pipeline has a potential end value of more than $12.8b.

ESR is expanding into the Middle East, targeting more than 3 million square metres in logistics and digital infrastructure assets across the Gulf Cooperation Council (GCC).

The expansion was initially focused on Saudi Arabia and the United Arab Emirates (UAE), ESR said. The pipeline has a potential end value exceeding $12.8b (US$10b).

ESR cited that modern institutional-grade logistics facilities remain in short supply, accounting for less than 20% of total stock in the UAE and less than 10% in Saudi Arabia.

Phil Pearce, ESR president, said the Middle East sits at the intersection of some of the world's most important trade and investment corridors and is experiencing strong demand for modern logistics infrastructure.

ESR is working with partners and investors to establish a scalable business across the GCC as economic, commercial, and supply chain links between Asia and the Middle East continue to strengthen.

$1 = US$0.78

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