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GFH acquires Dh500 million Dubai-based logistics fund

Transaction converts Manrre REIT into a Shariah-compliant investment vehicle

Published: Tue 31 Dec 2024, 8:34 PM

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Manrre’s portfolio ncludes 26 high-quality, diversified industrial and logistics properties primarily in the UAE. — Supplied photo

Manrre’s portfolio ncludes 26 high-quality, diversified industrial and logistics properties primarily in the UAE. — Supplied photo

GFH Partners Ltd, the DIFC-based global asset management subsidiary of GFH Financial Group, on Tuesday announced a strategic investment in Manrre REIT, a premier Dubai-based fund specialising in institutional-grade logistics and industrial assets across the UAE and the GCC region.

Founded in 2018 by Palmon Group FZCO, a leading local logistics developer and owner, Manrre’s portfolio is valued at approximately Dh500 million. This includes 26 high-quality, diversified industrial and logistics properties primarily in the UAE, establishing Manrre as a leading player in the region’s logistics and industrial real estate landscape.

This investment marks a pivotal milestone for Manrre and its future growth. Following the recent approval from the Dubai Financial Services Authority, GFH Partners has assumed the role of Fund Manager.

This transaction marks a significant milestone with the fund converted into a Shariah-compliant investment vehicle and aspiring for growth by broadening its investor base and accelerating new acquisitions and projects across the UAE and Saudi Arabia, regions experiencing strong demand in the logistics and industrial sectors.

Nael Mustafa, CEO of GFH Partners. — Supplied photo

Nael Mustafa, CEO of GFH Partners. — Supplied photo

Nael Mustafa, CEO of GFH Partners, said: “Our investment in Manrre is an extension of GFH Partners’ strategy, cantered on collaboration with leading specialist asset managers operating in attractive segments of the global real estate market. Already a major investor in logistics and industrial assets in the US, UK, and GCC region, we are well-positioned to leverage our deep experience to help accelerate Manrre’s growth and further build upon its unique market position. 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, also commented on the collaboration: “This investment marks a pivotal moment for Manrre. We have consistently aimed to redefine the logistics and industrial real estate market in the UAE and beyond. With GFH Partners on board, we are well-positioned to expand our specialist asset class and further elevate Manrre’s market presence.”

Manrre, registered with Nasdaq Dubai’s share depository, has a proven record of delivering long-term, stable dividend income and capital appreciation for its shareholders. With this strengthened partnership, the Fund is set to continue its upward trajectory, reinforcing its position as a pioneering force in logistics and industrial real estate across the GCC.



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