Al Mal Capital launches real estate fund
Al Mal Capital, the UAE Investment Company, has announced the introduction of the Al Mal Real Estate Fund.
The Fund will be a closed-end vehicle, targeting investment in UAE and regional real estate, with a flexible mandate to look across sectors for value-oriented opportunities over a five year time frame. The Fund will be capped at a committed size of AED 200 million, with funds to be drawn from investors over the first 12 to 18 months.
Landmark Real Estate Investment Management (LRIM) will act as Investment Advisor to the Fund: setting strategy, handling acquisitions, implementing individual asset plans and executing disposals. LRIM is led by Chris Purdon, a specialist asset manager with over 17 years of experience in overseeing real estate funds and property research units across Asia and the Middle East, with Jardine Fleming and Jones Lang LaSalle. In addition, the Fund’s Advisory Committee is made up of prominent members of the local real estate community, contributing their experience to the investment process.
“The value proposition we present is a strong one”, indicated Naser Nabulsi, Executive Chairman of Al Mal Capital. “With Al Mal Capital handling risk management, Landmark’s property fund managers looking for deals at ground level, and our Advisory Committee providing valuable advice, we have assembled a powerhouse team.”
Purdon added, “The UAE Real Estate market is evolving to a more mature stage, where property location, sector selection, deal structuring and disciplined buying will become more critical to success. Locally and regionally, the outlook for many sectors remains strong, and more rotational opportunities will arise – witness commercial returns in the UAE over the last year or so, even while the luxury residential market has stayed fairly flat”.
Al Mal Capital is a full service Investment Company, licensed and regulated by the UAE Central Bank, with paid-up capital of Dh. 333 million. The Company provides its prestigious list of clients with Investment Banking, Brokerage and Asset Management services.