GFH Partners, the Dubai International Financial Centre-headquartered asset management company, has made a strategic investment in Manrre REIT, a Dubai-based fund specialising in institutional-grade logistics and industrial assets across the UAE and the GCC region.
Manrre, founded in 2018 by Palmon Group, a leading local logistics developer and owner, has a portfolio valued at approximately AED 500 million ($136 million). A leading player in the region’s logistics and industrial real estate landscape, the fund owns 26 high-quality, diversified industrial and logistics properties primarily in the UAE.
Following the recent approval from the Dubai Financial Services Authority (DFSA), GFH Partners has assumed the role of Fund Manager of Manrre.
The fund has been converted into a Shari’ah-compliant investment vehicle. GFH Partners intends to fuel its growth by broadening the investor base and accelerating new acquisitions and projects across the UAE and Saudi Arabia, regions experiencing strong demand in the logistics and industrial sectors.
Nael Mustafa, CEO of GFH Partners, commented: “Our investment in Manrre is an extension of GFH Partners’ strategy, centred on collaboration with leading specialist asset managers operating in attractive segments of the global real estate market.
“Already a major investor in logistics and industrial assets in the US, UK, and GCC region, we are well positioned to leverage our deep experience to help accelerate Manrre’s growth and further build upon its unique market position.
“With a new structure and strengthened foundations, we look forward to capturing opportunities from strong macroeconomic drivers contributing to the growth of the logistics and industrial sectors across key markets in the GCC.”
Manrre, registered with Nasdaq Dubai’s share depository, has a record of delivering long-term, stable dividend income and capital appreciation for its shareholders. With this strengthened partnership, the Fund is set to continue its upward trajectory.
Kunal Lahori, Director of Manrre REIT Logistics Fund, said: “This investment marks a pivotal moment for Manrre. We have consistently aimed to redefine the logistics and industrial real estate market in the UAE and beyond. With GFH Partners on board, we are well-positioned to expand our specialist asset class and further elevate Manrre’s market presence.”
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