Build-to-rent property fund raises $212 million from US, European and local Dubai investors

Build-to-rent property fund raises $212 million from US, European and local Dubai investors

Build-to-rent investment portfolio in prime location in Dubai

From left: Martin Linder, CEO of Global Partners, Timothy Koorchuk, IC member of Global Partners and Christopher Wilmost, CFO. - Supplied photo

Published: Fri 27 Jan 2023, 6:20 PM

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. The fund focuses on the Dubai build-to-rent housing market with two projects on the Dubai Water Canal. $212 million was raised, with 35 per cent originating from North America, 37 per cent from Europe, and 27 per cent from the UAE.

H&H Development, the fund’s property development partner, 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. They will be called Eden House, The Canal, and Eden House, The Park and are expected to address a market gap for affluent renters in Dubai.

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