Dubai-based fund manager Global Partners Limited has pulled in $212 million for a real estate fund focused on the UAE’s property market.
The Global Partners Property Fund is based in the Dubai International Financial Centre and is classified as a qualified fund.
The fund’s investors are spread evenly across North America (35%), Europe (37%) and the UAE (27%).
According to Global Partners, the fund launch has been driven by the growth of the build-to-rent market – for example, the UK’s build-to-rent sector attracted $3 billion from investors in the first six months of 2022, according to Savills.
In Global Partners’ view, there is still a “huge gap” in the UAE’s rental market.
©2023 funds global mena