Mubasher: GFH Partners Limited, a DIFC-based global asset management subsidiary of GFH Financial Group, has acquired Manrre REIT, with a portfolio valued at nearly AED 500 million.
Manrre is a premier Dubai-based fund specialising in institutional-grade logistics and industrial assets across the UAE and the GCC region, according to a press release.
This transaction marks a significant milestone with the fund converted into a Shari’ah-compliant investment vehicle and accelerating new acquisitions and projects across the UAE and Saudi Arabia.
Established in 2018 by Palmon Group FZCO, Manrre’s portfolio includes 26 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.
Nael Mustafa, CEO of GFH Partners, said: “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.”
Kunal Lahori, Director of Manrre REIT Logistics Fund, commented: “With GFH Partners on board, we are well-positioned to expand our specialist asset class and further elevate Manrre’s market presence.”
In November, GFH Partners Limited acquired A-Class purpose-built student housing assets in the US valued at $300 million.
