DIFC-based build-to-rent property fund raises $212m from US, European and Dubai investors

Global Partners, a DFSA regulated institutional fund manager specialising in alternative investments, has successfully closed Global Partners Property Fund I (CEIC),  a qualified investor fund based in the DIFC.

Global Partners Property Fund I focuses on Dubai’s build-to-rent housing market with two projects on the Dubai Water Canal.

An amount of $212m 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 an important role in ensuring the fund’s success.

Addressing a market gap

Martin Linder, CEO at Global Partners, said: “We are delighted with the reception we have received from global investors for our inaugural fund. Institutional capital is increasingly interested in Dubai real estate, and we have created an ideal fund to cater to this demand. The fund is in line with Global Partners’ strategy to deliver institutionally owned and managed residential supply in Dubai.”

Miltos Bosinis, CEO of H&H Development, added: “We are excited to be part of this investment initiative which proves that Dubai has become an international financial centre that attracts global investor’s interest from all over the world. As a reputable institutional developer, H&H will give Global Partners all the support they need to carry out their strategy and expand their footprint in Dubai to create a bespoke portfolio of properties of the highest quality and standards.”

Global Partners Property Fund I’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 perfectly located to address a market gap for affluent renters in Dubai.