Arcapita acquires industrial real estate portfolio in US

Arcapita CEO Atif A. Abdulmalik
Updated 18 November 2018
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Arcapita acquires industrial real estate portfolio in US

Arcapita, a Shariah-compliant alternative investment manager, has acquired a seven-property industrial real estate portfolio in Cleveland, Ohio. 

The Cleveland portfolio comprises 655,000 square feet of high-quality industrial assets within the metropolitan area and is occupied by a diverse range of creditworthy tenants operating in the logistics, technology, and assembly space.

Arcapita has partnered with Weston, an Ohio-based real estate owner-operator, with a strong history in Cleveland and the wider Midwest. Weston will maintain a joint-venture investment in the portfolio and will serve as the leasing and managing agent.

The acquisition is part of Arcapita’s broader US industrial real estate strategy targeting quality assets within the last mile and light industrial sub-sectors, with locations in close proximity to major population centers that enjoy strong consumer demand and developed supply chain infrastructures. 

Atif A. Abdulmalik, Arcapita’s chief executive officer, said: “We have a strong track record in the industrial warehousing sector, having overseen $2 billion of industrial real estate transactions in the US and Asia. We previously managed and successfully exited five industrial portfolios comprising over 100 properties, including a $1.4 billion IPO.”

“Expanding our US real estate footprint is a key pillar of our growth strategy, and I am pleased with the progress our US team has achieved in building our industrial portfolio. We have good momentum and are excited to expand our portfolio in the sector with additional acquisitions in the months to come.”

Commenting on the transaction, Martin Tan, Arcapita’s chief investment officer, said: “We expect the industrial sector to experience attractive growth on the back of strong and continued demand from tenants in the e-commerce and manufacturing supply chain segments. We have recently expanded our US team, and this acquisition highlights the depth of our asset sourcing network in the US and our commitment to the market.”

Arcapita has offices in Bahrain, Atlanta, London and Singapore. Arcapita’s principal lines of business are private equity and real estate, and its management has a 20-year track record of over 80 investments with a total transaction value in excess of $30 billion. 


LuLu marks Founding Day with ‘Made in Saudi’ campaign

Updated 25 February 2026
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LuLu marks Founding Day with ‘Made in Saudi’ campaign

The Ministry of Industry and Mineral Resources honored LuLu Hypermarket in recognition of its pivotal role as the exclusive retail partner of the “Najoud Bikhairna 2026” initiative, commending its continued efforts in supporting and empowering national industries while showcasing the quality and competitiveness of locally manufactured products.

The initiative, led by the ministry in partnership with the Saudi Export Development Authority, represented by the Made in Saudi program, stands as a pioneering model of public-private sector collaboration in activating community-driven initiatives with sustainable impact. Through this program, more than 280,000 Saudi-made products were distributed to 10,000 families across various regions of the Kingdom during the holy month of Ramadan, reinforcing the presence of national products and strengthening the values of social solidarity among individuals and institutions alike.
The ministry’s recognition of LuLu Hypermarket coincided with the official launch of its Saudi Founding Day celebrations at the Dharat Laban branch in Riyadh, marked by the unveiling of a comprehensive promotional campaign dedicated to Saudi-made products. On this occasion, a wide range of special offers was introduced on local products, available across all LuLu Hypermarket branches throughout the Kingdom.
The inauguration ceremony was attended by Mohammed bin Dayel, general supervisor of the Made in Saudi program at the Saudi Export Development Authority, and Mohamed Haris, director of LuLu Saudi Arabia, alongside members of LuLu’s executive management team. The event featured a ribbon-cutting ceremony to officially open the specially designed Founding Day gateway.
Following the inauguration, guests toured several dedicated zones and exhibitions highlighting national products. The tour commenced at the grocery and “Made in Saudi” consumer goods sections, showcasing the diversity and quality of local brands. It also included the “Made in Saudi” dates pavilion, presenting a premium selection of the finest locally sourced dates in celebration of one of the Kingdom’s most iconic national symbols.
The visit continued to the fruits and vegetables section under the theme “From Our Land,” featuring an exceptional assortment of Saudi agricultural products, reflecting the richness and excellence of the local agricultural sector. Guests also explored the LuLu private label corner, which features products exclusively manufactured within the Kingdom for LuLu, reaffirming the company’s commitment to supporting local manufacturing.
The tour concluded with a presentation of “Made in Saudi” products within the chilled and frozen categories, underscoring the rapid growth and qualitative advancement of the Kingdom’s food manufacturing sector, and further reinforcing the strong market position and competitiveness of Saudi products.