A Dubai-based financial services firm, the Gulf Islamic Investments, the objective for powering its property holdings as well as stepping up their private equity investment this year as the global economies recover from COVID-19 Pandemic.
The founding partners as well as Co-chief Executive, Mohammed Alhassan, further added that: “The firm will spend between $300 million and $400 million to attain property in the Gulf, Europe and the US and will invest $200m in the private equity space in India as well as Saudi Arabia.”
Mr Alhassan also stated that: “GII will finance new deals through “our own balance sheet and syndicating it to our shareholders as well. We have a robust relationship with native banks, as well as international banks, and we have transacted with them for almost half a billion dollars in terms of loans for our assets in the past seven years.”
He also added that: “We have assets under management of $2 billion and we are trying to reach $1bn more until the end of the year … this includes real estate and private equity.”
GII invests within the sectors like Property, private equity as well as the Venture Capital. Its clients include family offices, banks, institutions, as well as sovereign wealth funds, the wealthy private investors in the GCC and Asia. It is controlled by the Securities and Commodities Authority.
GII has invested $1.2bn in the property sector over the preceding seven years, attaining residential, commercial as well as the industrial constructions in Dubai, the UK, France as well as the US.
The company purchased an office structure in the US state of Pennsylvania for $48m, an Amazon distribution centre in Germany for $144m and as well as an Airbus property in Newport, Wales, for £30m. It also accepted Realogy’s headquarters in New Jersey for $124m.
In the UAE, it possesses logistics centres and workforce accommodation in Dubai Investment Park. The firm is also the major investor in Dubai E-commerce firm Mumzworld.
It also attained a police station in Chelsea, West London, for revamping three years ago for an unrevealed amount.
He also added out that: “The firm has no plans to approach the bond market but will look to procure finances from banks in the future.”
This is their second portfolio within India. We have already capitalized in health care. We own about 20 to 25 percent of four chain hospitals.
“In the private equity space, the firm intends to invest in India and Saudi Arabia. In India, it will emphasis on the healthcare, technology and consumer sectors through its “India growth portfolio”, which is valued at $60m. GII is probing for “niche prospects” in food manufacturing and other sectors in the kingdom.”
It also intends to exit few of their investments this year in private equity and property. However, Mr Alhassan did not divulge which assets the business intends to sell.
Mr Alhassan is optimistic about the London property market and stated that areas like the Mayfair and Chelsea are performing well.
“If you have new development and very good location, people will buy because it is a hub. There is still demand in the market,” he said.
Mr Alhassan stated out that the firm is “doing very well and we are profitable”, when asked about revenue targets for 2021, he however, did not disclose figures.
GII is evaluating an initial public offer but will make a decision on it when the “time is correct”.
Other firms in the territory like as Bahrain-listed private equity and alternative asset manager Investcorp are too investing in property in Europe and the US as part of their development strategies.
Bahrain’s Arcapita developed a core distribution centre in the US prior to this month as it endures to develop its industrial property portfolio in the global biggest economy.
