Mubasher: GFH Financial Group has acquired high quality and income yielding logistics warehouses, located in south eastern Spain and leased on a long-term basis to Amazon Road Transport, at a value of around $77 million.

The two warehouses were constructed according to the highest of specifications and are part of the evolving supply-chain network in Spain, equipped for decreasing delivery times for Amazon's logistics network in Spain, according to a press release on Monday.

Spanning over an area of more than 100,000 square metres, the two warehouses have access to over four million people across south eastern Spain.

Furthermore, the warehouses are located at the motorways linking the eastern coast of Spain’s main cities of Barcelona, Valencia, and Malaga to the European road network.

The Managing Director of Business Development at GFH, Nael Mustafa, commented: "This transaction, which also marks our first in Spain, was concluded as a result of a number of unique dynamics."

Mustafa remarked: "This includes the exceptional and thriving location of both assets within close proximity to highly populated areas, key access to Spain’s logistics air, road and ports network and, importantly, exposure to strong growth trends in their related segments of the retail, logistics and real estate markets." 

GFH is listed on Bahrain Bourse (BHB), Boursa Kuwait, and the Dubai Financial Market (DFM).