GFH acquires $136mln Dubai-based logistics fund

This investment marks a pivotal milestone for Manrre and its future growth.

GFH Partners Invests in Manrre REIT, Strengthening Logistics and Industrial Real Estate in the GCC

GFH Partners, the global asset management arm of GFH Financial Group, based in DIFC, has announced a strategic investment in Manrre REIT. This premier Dubai-based fund specializes in institutional-grade logistics and industrial properties across the UAE and the wider GCC region.

Established in 2018 by Palmon Group FZCO, a prominent local logistics developer and owner, Manrre REIT boasts a portfolio valued at approximately AED500 million ($136.13 million). The portfolio includes 26 high-quality, diversified logistics and industrial properties, primarily located in the UAE. This positions Manrre as a key player in the logistics and industrial real estate market in the region.

The investment represents a significant step forward for Manrre’s growth and future endeavors. GFH Partners, following approval from the Dubai Financial Services Authority (DFSA), has assumed the role of Fund Manager, overseeing the fund’s operations.

The transaction also marks the conversion of Manrre into a Shari’ah-compliant investment vehicle. With this new structure, the fund is focused on expanding its investor base and accelerating acquisitions and projects across the UAE and Saudi Arabia. Both regions are experiencing robust demand in the logistics and industrial sectors.

Nael Mustafa, CEO of GFH Partners, shared his insights: “Our investment in Manrre aligns perfectly with our strategy of collaborating with leading asset managers in promising global real estate segments. Having established a strong presence in logistics and industrial assets across the US, UK, and GCC, we are well-equipped to drive Manrre’s growth and enhance its unique market standing. With a restructured foundation, we are eager to capitalize on the macroeconomic drivers fueling the logistics and industrial sectors in key GCC markets.”

Kunal Lahori, Director of Manrre REIT Logistics Fund, commented: “This investment marks a transformational moment for Manrre. Our mission has always been to redefine the logistics and industrial real estate landscape in the UAE and beyond. Partnering with GFH Partners will allow us to expand further and strengthen Manrre’s position in the market.”

Registered with Nasdaq Dubai’s share depository, Manrre REIT has a solid track record of delivering stable, long-term dividend income and capital appreciation for its investors. This strengthened partnership sets the stage for continued growth, reaffirming Manrre’s role as a leader in logistics and industrial real estate across the GCC.

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