Sweid & Sweid, a Dubai-based real estate development and investment group, has announced the sale of River Park 10, an 825,000-sq-ft Class A industrial development in Atlanta, Georgia, for AED350 million ($95.30 million).

 

Georgia Power, the state’s largest public utility company with a 120-year operating history, acquired the facility for its own use. The project’s scale, quality, and transportation connectivity allowed for a swift transaction, delivering strong results and another successful exit for the Sweid & Sweid group, said a statement.

 

Maher Sweid, Managing Partner of Sweid & Sweid, said: “Our track record in the US speaks for itself. After eight years of deploying capital across various asset types and multiple markets, we have honed our ability to identify opportunities that deliver superior risk-adjusted returns. During the past year alone, we have successfully completed three projects across the US Sun Belt region, including this sale. We are now in advanced stages of securing new opportunities that will further expand our U.S. investment portfolio, with a focus on the industrial sector.”

 

“This complements our expansion in Dubai, where we have recently announced the launch of Terralogix, a 3.3-million-square-foot logistics facility designed to serve as a critical node in Dubai’s supply chain infrastructure. The project is set to be the largest privately owned logistics park in the emirate,” he added.

 

River Park 10 forms part of the broader River Park master development, which spans more than 1,100 acres and is planned to deliver 21 million square feet of industrial space across 16 state-of-the-art facilities. Strong demand continues to drive activity at River Park, with recent large-scale leases signed by leading national and international companies, including Procter & Gamble, Amazon Web Services, Travelpro, GreenBox, and Yusen Logistics. - TradeArabia News Service