Dubai’s Global Partners has raised $212m for a build-to-rent housing market fund.
The DFSA regulated institutional fund manager secured the funding for two projects on the Dubai Water Canal.
Of the $212m raised, 35% came from North America, 37% from Europe, and 27% from the UAE.
Dubai built-to-rent property fund
H&H Development, the fund’s property development partner, aims to bring to the market upmarket developments on the Water Canal using its Eden House brand.
They will be called Eden House, The Canal, and Eden House, The Park and are aimed at affluent renters in the city.
Martin Linder, CEO 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.”
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 centre 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 to create a bespoke portfolio of properties of the highest quality and standards.”
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