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Speaking of institutional investments in regional real estate…: We have news of two regional institutional players also planning to deploy funds in regional real estate assets.
#1- Bahrain’s Arcapita launches platform for GCC industrial assets: Bahrain-based alternative asset management firm Arcapita Group launched Lintara Properties, a new real estate asset management, development, and advisory platform focused on the UAE, Saudi Arabia, and Bahrain, according to a company statement. The platform will be led by CEO Isa Husam Al Khalifa (LinkedIn), formerly Arcapita’s MENA real estate director.
The details: Lintara will manage Arcapita’s existing and future GCC industrial real estate funds, including its current USD 1 bn logistics and industrial portfolio spanning more than 30 properties and 80 tenants, as well as a pipeline of industrial parks in Saudi Arabia and the UAE. It will oversee the full cycle from design and development to construction, leasing, and asset management.
REMEMBER- Arcapita was reportedly considering launching a regional real estate investment trust to consolidate its assets in January. The firm has invested heavily in the UAE, acquiring Neopay from Mashreq as part of a consortium with Turkish fintech Dgpays, and in February obtained an ADGM license to establish Arcapita Investment Management, its UAE-based unit.
#2- Kuwait-based Arzan Investment Management (AIM) lined up financing from Oaktree Capital Management-backed funds to ramp up acquisitions of hospitality assets across big cities in the GCC, including Dubai according to a press release, which did not disclose the value of the facility. The private credit commitment will give Arzan the firepower to buy more hotel and real estate assets across Gulf cities, building on two Dubai hospitality transactions valued at about USD 400 mn and a USD 1 bn regional pipeline. The story got ink in Bloomberg.
Oaktree isn’t new to Dubai: Oaktree-backed net-asset-value (NAV) lender 17Capital secured approvals to set up shop in Dubai in June 2024.
