Siraj Capital, Ltd. and DTZ, a real estate advisory company, have launched $100 million Peninsula Real Estate Fund with approval from the Bahrain Monetary Agency.
The Peninsula Fund's goal will be to provide investors with international asset and property management expertise along with access to a diversified portfolio of real estate opportunities across multiple Middle East and North Africa (MENA) jurisdictions. The fund will use a unique investment strategy to acquire assets from regional corporates looking to divest non-core real estate assets for balance sheet optimisation.
DTZ has been operating in the Middle East for over 30 years. Simon Berrill, Chief Executive of DTZ Corporate Finance comments: "DTZ has invested significant resources in building its presence and expertise in the region. We look forward to working closely with such a prominent Gulf Cooperation Council (GCC) partner as Siraj."
Robin Williamson, Managing Director of DTZ Middle East Operations adds: "We believe our international real estate fund management experience and our ability to source and manage properties and developments locally will give the fund a significant and unique edge."
Ghassan Al Sulaiman, Chairman of Siraj Capital said: "We are extremely pleased to be working with DTZ. They bring significant resources and experience as well as significant MENA presence with their offices throughout the region. The breadth of real estate talent on the DTZ team is impressive and they have unique experience advising a fund of this type."
Ibrahim Mardam-Bey, Chief Executive of Siraj Capital, said: "The Shariah compliant fund's strategy will focus on acquiring secured income generating commercial real estate and investing in select regional development opportunities. By joining efforts, the two companies aim to bring to the MENA region an institutional quality investment fund utilising best in class, international standards in real estate investment and property management."