GFH Partners Acquires Dubai's Manrre REIT in Strategic Expansion

GFH Partners, the Dubai International Financial Centre (DIFC)-based asset management subsidiary of GFH Financial Group, has acquired Manrre REIT, a prominent Dubai-based real estate investment trust specializing in logistics and industrial assets across the UAE and the broader Gulf Cooperation Council (GCC) region.

Established in 2018 by Palmon Group FZCO, a leading local logistics developer and owner, Manrre REIT's portfolio comprises 26 high-quality, diversified industrial and logistics properties, primarily located in the UAE. The portfolio is valued at approximately AED 500 million (USD 136.13 million), positioning Manrre as a significant player in the region's logistics and industrial real estate sector.

This strategic acquisition aligns with GFH Partners' objective to collaborate with specialized asset managers in attractive segments of the global real estate market. The firm has previously invested in logistics and industrial assets in the United States, United Kingdom, and GCC region. Nael Mustafa, CEO of GFH Partners, stated, "Our investment in Manrre is an extension of GFH Partners’ strategy, centered on collaboration with leading specialist asset managers operating in attractive segments of the global real estate market."

Manrre REIT has a track record of delivering long-term, stable dividend income and capital appreciation for its shareholders. The fund is registered with Nasdaq Dubai’s share depository, enhancing its credibility and transparency in the market.

The acquisition is expected to have a positive impact on GFH Financial Group's financials, potentially increasing returns for the group.

GFH Partners has been actively expanding its global asset management portfolio. In 2023, the firm acquired majority stakes in SQ Asset Management, a US-based student housing market specialist, and Big Sky Asset Management, a US-based healthcare real estate provider with a portfolio exceeding USD 1 billion in assets under management. The firm also launched its seventh Logistics & Industrial Fund alongside strategic partner Transport Properties, with a portfolio including investments in assets tenanted by companies such as AT&T and Tesla.

The logistics and industrial sectors in the GCC are experiencing significant growth, driven by strong macroeconomic factors and increased demand for efficient supply chain solutions. GFH Partners' investment in Manrre REIT positions the firm to capitalize on these opportunities and further solidify its presence in the region's real estate market.

Manrre REIT's portfolio includes properties tenanted by prominent companies such as Infofort, a leading information management solutions provider, and Al Shaya, a major retail franchise operator in the Middle East. The properties boast high occupancy rates, reflecting the strong demand for quality logistics and industrial spaces in the region.

The collaboration between GFH Partners and Manrre REIT is expected to drive the fund's growth by broadening its investor base and accelerating new acquisitions and projects across the UAE and Saudi Arabia. These regions are witnessing robust demand in the logistics and industrial sectors, making them attractive markets for investment.

GFH Financial Group, headquartered in Bahrain, is a leading regional financial group with a diversified offering and pioneering track record. The group's activities span investment management, commercial banking, and real estate development. The acquisition of Manrre REIT aligns with GFH's strategy to enhance its asset management capabilities and expand its portfolio in high-growth sectors.

Palmon Group FZCO, the founder of Manrre REIT, has over 36 years of experience in the manufacturing, retail, and logistics sectors in the UAE. The group's extensive experience and deep understanding of the local market have been instrumental in the success and growth of Manrre REIT.
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