UAE - Global Partners Limited, a DFSA regulated institutional fund management company specialising in alternative investments, has successfully closed Global Partners Property Fund I (CEIC) Limited, a qualified investor fund based at DIFC.

The fund focuses on the Dubai build-to-rent market and has two projects on the Dubai Water Canal.

US$212 million was raised, of which 35% came from North America, 37% from Europe and 27% from the UAE.

H&H Development is the real estate development partner of the fund and will play a key role in ensuring the success of the fund through its proven world-class execution capabilities.

The Fund's two projects are high-end developments on the Dubai Water Canal that will use H&H Development's Eden House brand.

They will be known as Eden House, The Canal and Eden House, The Park and are expected to fill a gap in the market for affluent tenants in Dubai.

Martin Linder, CEO of Global Partners, said." We are delighted with the reception that global investors have given to our inaugural fund. Institutional capital is increasingly interested in Dubai real estate and we have created an ideal fund to meet this demand. The fund is in line with Global Partners' strategy to provide a supply of institutionally owned and managed homes in Dubai."

Miltos Bosinis, CEO of H&H Developments, added: "We are delighted to be part of this investment initiative, which is testament to Dubai's emergence as an international financial centre attracting interest from global investors from around the world. As a renowned institutional developer, H&H will give its global partners all the support they need to execute their strategy and expand their footprint in Dubai, creating a portfolio of bespoke properties of the highest quality and standard."