GFH Partners Acquires Manrre REIT for $136.13 Million

GFH Partners Ltd., the DIFC-based global asset management subsidiary of the Bahrain-based GFH Financial Group, has announced a strategic investment in Manrre REIT, a premier Dubai-based fund specialising in the 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 $136.13 million, GFH Partners said in a regulatory disclosure with Abu Dhabi Securities Exchange (ADX) on Tuesday.

This includes the 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 (DFSA), GFH Partners has assumed the role of Fund Manager. This transaction marks a significant milestone with the Fund converted into a Shari’ah-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.

Extension of Strategy

GFH Partnhers CEO Nael Mustafa said that their 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, the UK, and GCC region, GFH Partners are well-positioned to leverage its deep experience to help accelerate Manrre’s growth and further build upon its unique market position, he said.

“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,” he added.

Kunal Lahori, Director of Manrre REIT Logistics Fund, also commented on the collaboration saying this nvestment marks a pivotal moment for Manrre as they 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,” he added.

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.