Blackstone, Lunate launch $5 billion GCC logistics venture

Dubai: Blackstone and Abu Dhabi-based Lunate today revealed a strategic partnership to invest in logistics infrastructure across the Gulf Cooperation Council (GCC). The new vehicle, named Gulf Logistics Infrastructure Development Enterprise (GLIDE), will acquire, develop and manage Grade A logistics assets in the region.

GLIDE is targeting a $5 billion investment in warehouse and logistics facilities, with a mix of greenfield developments, portfolio acquisitions and sale-and-leaseback transactions. The platform is designed to attract additional GCC partners and will maintain dedicated regional teams.

Blackstone, which manages over 1.2 billion square feet in logistics assets globally, will bring its scale, operational know-how and capital access. Lunate, with more than $110 billion under management and a strong local network, will provide regional sourcing, market insight and execution capabilities.