New fund focused on Dubai Build to Rent market raises US $212m

A new fund focused on the Dubai Build to Rent market raises US $212m from US, European and local Dubai investors.

Martin Linder, CEO of Global Partners (left), Timothy Krochuk, IC Member of Global Partners (centre) and Christopher Wilmot, CFO of Global Partners (right) | BTR News
Martin Linder, CEO of Global Partners (left), Timothy Krochuk, IC Member of Global Partners (centre) and Christopher Wilmot, CFO of Global Partners (right).

Global Partners Limited, a DFSA regulated institutional fund manager specialising in alternative investments, has successfully closed Global Partners Property Fund I (CEIC) Limited, a Qualified Investor Fund based in the DIFC. US $212m was raised, with 35% originating from North America, 37% from Europe and 27% from the UAE. The fund focuses on the Dubai Build to Rent market, with two projects on the Dubai Water Canal.

“We are delighted with the reception we have received from global investors for our inaugural fund. Institutional capital is increasingly interested in Dubai real estate, and we have created an ideal fund to cater to this demand. The fund is in line with Global Partners’ strategy to deliver institutionally owned and managed residential supply in Dubai.”

Martin Linder, Chief Executive Officer, Global Partners

The fund’s property development partner – H&H Development will play a vital role in ensuring the fund’s success – through their proven world-class execution capabilities. The two Dubai Build to Rent projects will use H&H Development’s Eden House brand and will be called Eden House, The Canal, and Eden House, The Park. Both projects are perfectly located to address a market gap for affluent renters in Dubai.

“We are excited to be part of this investment initiative which proves that Dubai has become an international financial centre that attracts global investors’ interest from all over the world. As a reputable institutional developer, H&H will give Global Partners all the support they need to carry out their strategy and expand their footprint in Dubai to create a bespoke portfolio of properties of the highest quality and standards.”

Miltos Bosinis, CEO, H&H Development