GCC Real Estate Industrial Development Fund Launched

SC Capital Partners, a leading Singapore-based real estate investment management firm, has launched the SC GCC Real Estate Industrial Development Fund (GRID), its first co-sponsored industrial development fund in the UAE.

CapitaLand Investment Limited (CLI), a leading global real asset manager which holds a 40% stake in SC Capital Partners, will co-sponsor the Fund, which will support Ras Al Khaimah’s transformation with a flagship industrial project expected to create 1,800 jobs, attract more than 50 tenants, and cover 300,000 sq. m. of land, SC Capital Partners said.

SC Capital Partners will work alongside its industrial partner, THi Holding Management Corporation (THi), which will act as the development manager, asset manager and operator. Together, the three partners will form a consortium that combines global investment expertise with on-the-ground real estate capabilities ensuring the Fund’s long-term success, the company said in a statement.

The Fund’s first project will be developed in the Ras Al Khaimah Economic Zone (RAKEZ). Under the patronage of H H Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, the consortium has signed an investment framework agreement with RAKEZ.

The agreement, signed on 28 April 2025, represents a landmark step in positioning the Emirate as a hub for advanced industries and innovation. This initiative comes as the UAE’s industrial and logistics sectors experience significant growth, driven by rising purchasing power, expanding e-commerce, and government-led Industry 4.0 initiatives.

By attracting high-tech and smart manufacturing enterprises, particularly from Asia, the project will foster innovation, strengthen supply chain resilience, and reinforce the UAE’s role as a regional leader in industrial transformation.

H H Sheikh Saud bin Saqr Al Qasimi said that RAK continues to strengthen its position as a hub for advanced industries and innovation.

“This partnership reflects our commitment to creating a dynamic business ecosystem that attracts global investment, generates employment opportunities for our people, and contributes to the sustainable growth of the wider UAE economy,” he added.

Building on this vision, the consortium will transform over 300,000 sq. m. of land in Ras Al Khaimah into a next-generation industrial park that will attract high-tech and smart manufacturing enterprises from across Asia.

With tenants expected in fields such as electric vehicles, renewable energy, and advanced materials, the park will serve as a catalyst for innovation and a hub for resilient, future-focused industries that reinforce the UAE’s role in global supply chains.

Part of Expansion Strategy

Suchad Chiaranussati, Chairman and Founder of SC Capital Partners, said that the launch of inaugural GRID fund marked a significant milestone in their expansion strategy.

The UAE presents compelling opportunities for long-term value creation, underpinned by a visionary national agenda and rapidly evolving industrial ecosystems. By combining our institutional expertise with THi’s proven development and executional capabilities, we aim to deliver strong value to our investors and build a high-quality industrial portfolio, Suchad added.

CLI’s Group Chief Operating Officer Andrew Lim said that CLI’s co-sponsorship of GRID demonstrates their agility in co-creating funds that capture timely opportunities, as the GCC region becomes an increasingly important logistics node in the global supply chain.

“With the combined strengths of CLI, SC Capital Partners and THi across fund management, asset development, asset management and tenant networks, we are well-positioned to connect capital partners with high-quality investment opportunities across geographies. We look forward to working with SC Capital Partners and THi to support the GCC’s industrial transformation,” Lim added.

With the UAE as its launchpad, the Fund has already built a strong pipeline of development opportunities in Abu Dhabi and Dubai. These key industrial and economic zones will serve as anchor markets for the Fund’s long-term growth strategy, aligning with the UAE’s national ambitions for economic diversification, advanced manufacturing, and global connectivity.