King & Spalding adivises GFH on acquisition
King & Spalding advised GFH Partners on its acquisition of Manrre, a Dubai-based real estate fund specializing in institutional-grade logistics and industrial assets across the UAE and the GCC. With a portfolio valued at approximately AED 500 million, Manrre can count on a fleet of 26 industrial and logistics properties, making it one of the largest funds in its sector in the UAE.
As part of the transaction, Manrre was converted into a Shari’ah-compliant investment vehicle, enabling the fund to expand its investor base and accelerate growth in high-demand markets such as the UAE and Saudi Arabia. GFH will now act as a fund manager for Manrre.
GFH Partners
Based in the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial ServicesAuthority (DFSA), GFH Partners is a subsidiary company of GFH Financial Group, under which it operates as a real estate investment and asset management platform, managing assets worth $6.5 billion.
Manrre was established by Palmon Group, a UAE-based family business specialising in logistics property development.
The team
The King & Spalding cross-office team advising on the deal included professionals from Dubai, Singapore, London, and Riyadh. Partners James Stull (pictured left) and Malek Al Rifai (pictured right) of the Dubai office led the operations, supported by counsel Dora Chan, senior associates Mohammed Basama, Layla D’Monte, Saud Aldawsari, associates Benedict Grima, Jamie Kershaw, Husni Al Far, Salma Alheraiqi, and Husam Alhmary.