Global Partners Limited, an institutional fund manager regulated by the Dubai Financial Services Authority, has completed the fundraising for Global Partners Property Fund I (CEIC) Limited. This Qualified Investor Fund, based in the Dubai International Financial Centre, invests in the build-to-rent housing market in Dubai, specifically in two projects along the Dubai Water Canal. The fund raised a total of $212M , with 35% coming from North America, 37% from Europe, and 27% from the United Arab Emirates.
H&H Development, the fund’s property development partner, according to Khaleej Times, will play a vital role in ensuring the fund’s success through their proven world-class execution capabilities. The fund’s two projects are upmarket developments on the Dubai Water Canal, which will use H&H Development’s Eden House brand. Martin Linder, chief executive officer at Global Partners, said: “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.”
Miltos Bosinis, CEO of H&H Development, added: “We are excited to be part of this investment initiative which proves that Dubai has become an international financial center that attracts global investor’s 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.”
