[ad_1]
Dubai-headquartered Gulf Finance Home (GFH) Companions, the worldwide actual property funding arm of Bahrain’s GFH Monetary Group, has acquired a majority stake in Devmark Actual Property Brokers, a UAE-based growth advertising and gross sales consultancy.
Monetary particulars of the acquisition weren’t disclosed.
The acquisition of Devmark marks GFH Companions’ second UAE actual property platform majority share acquisition, following its acquisition of the GFH Companions Manrre REIT (CEIC), and indicators its entry into the GCC residential gross sales and advertising ecosystem.
The transfer enhances its thematic publicity in the true property sector, the place its platform presently has 33 belongings and AED1.5 billion in asset worth below administration.
Nael Mustafa, Chief Govt Officer of GFH Companions, commented: “The acquisition of Devmark represents an extension of our platform partnership technique, investing alongside distinctive administration groups to construct enduring, sector-specific platforms.
“Devmark’s market management and deep developer relationships make it a crucial companion as we broaden our GCC footprint and create higher connectivity between buyers, capital markets, and builders throughout our ecosystem.”
Sean McCauley and Richard Aybar, Devmark’s founders, will proceed to steer and handle the enterprise, and along with GFH Companions, they are going to pursue progress alternatives throughout the UAE and GCC. In addition they plan to introduce institutional capital options for builders.
Based in 2018, Devmark has led the gross sales effort for greater than 30 tasks with a mixed gross growth worth exceeding AED10 billion (US$2.72 billion) and a gross sales distribution community spanning over 2,000 brokerage corporations and over 15,000 brokers. It performs a key function in serving to residential builders drive gross sales efficiency by means of a complete 360-degree strategy from venture positioning, advertising, to gross sales execution.
McCauley, Chief Govt Officer of Devmark, added: “Becoming a member of forces with GFH Companions supplies Devmark with institutional scale, monetary power, and entry to international capital flows.
“Collectively, we’ll proceed to raise requirements of venture advertising and gross sales within the area, whereas pursuing progress alternatives throughout GCC’s most dynamic residential markets.
“Most significantly, this partnership enhances the worth we are able to ship to builders, enabling us to attach them with new sources of capital, extra refined methods, and a broader ecosystem of buyers and consumers to speed up venture success.”
GFH Companions is a DFSA-regulated international actual property funding supervisor headquartered within the Dubai Worldwide Monetary Centre (DIFC). It has roughly US$7 billion in belongings below administration throughout the US, UK, and GCC. The agency specialises in thematic investing throughout logistics, dwelling, healthcare, and digital infrastructure sectors.
[ad_2]
