GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share
  • Manrre currently holds a portfolio of 19 real estate properties worth AED 215,000,000 across the UAE
United Arab Emirates, Dubai, 19th July 2018:  The family behind the successful Palmon Group, one of UAE's home-grown conglomerates has announced the launch of its private real estate investment trust (REIT) Manrre - a Property Fund and a Real Estate Investment Trust for qualified investors. Established in compliance with the laws and rules of the Dubai Financial Services Authority (DFSA), Manrre aims to raise about AED 330M as part of its strategy to acquire additional rent-yielding commercial assets. 
 
Manrre's stable, low risk strategy involves focusing on industrial, logistics and commercial assets, Manrre's primary target market is the UAE. Its core investment objectives include generating a regular source of income for investors by way of distributing quarterly dividends and targeting 8 percent annualized return.
 
The challenge for investors is the inability to access high value real estate which generates better returns as it typically requires larger ticket size. By pooling resources with those of others, qualified investors are able to access these larger assets that might otherwise remain out of reach with a minimum subscrption starting at a USD 500,000.
 
Manrre also accepts investments in-kind of those assets which fit into the fund's investment strategy, and which will be accepted into the fund in exchange for shares.  This will allow in-kind investors enjoy added diversification and returns without the operational obligations of property management and maintenance.
 
“Our vision for Manrre is to list the fund on stock exchange within the next two years to generate maximum return for our investors.  As we get closer to 2020, we believe this is the right time to launch Manrre,” said Mr. Manohar Lahori, Chairman of Palmon Group.
 
Manrre currently holds a portfolio of 19 real estate properties worth AED 215,000,000 across the UAE and its portfolio consists of 62 percent investment in logistics assets, 23 percent in industrial assets, 8 percent in office assets and 7 percent in staff accommodation.
 
“Since establishing our roots in 1985 in the UAE, and over the last 33 years we've been an investor in industrial and commercial real estate. We leverage the global, regional knowledge and expertise of the team, which today underpins Manrre. With structured, formal governance and an external investment committee validating every investment, Manrre achieves the ideal balance between personal insight and objective scrutiny and controls,” added Mr. Manohar Lahori.
 
Globally, REITs are a growing segment of the real estate market with an estimated market capitalisation of around US$2.1 trillion, according to Cohen & Steers. Asia is the region with the largest growth in REITs in recent years with Singapore and Japan being the biggest markets. 



Posted by : GoDubai Editorial Team
Viewed 10016 times
Posted on : Thursday, July 19, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Sharjah continues to become more affordable, with rents and sales prices falling – Bayut H1 report
Next Story : ENBD REIT Announces Q1 NAV of USD 289 million
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Celebrate Mother's Day with the perfect gift from Sawalef Perfumes
The essence Guide to a Mother's Day done right!
Get Kylie Minogue's Youthful Complexation with The Organic Pharmacy's Rose Diamo...
Zoho sees over 100% market growth in the UAE, announces initiatives for the region
Dubai Festival City Mall picks the perfect gifts to say thank you to all mums th...
Desigual ‘Not the Same' Since 1984
Step up your make-up game for Spring/Summer '19 with Lottie London
Visa partners with Starbucks & Hardee's to help promote the use of Apple Pay in ...
Splash launches Regional Designer Collaborations
Trade-in Your Old Device for a brand new Galaxy S10
A major presence of the French cosmetics industry at Beauty World Middle East in...
Michael Michael Kors Spring 2019: Middle East Edit
Fit and Fabulous – now a possibility with HONOR technology
Hucklebones create charming pieces for girls filled with easy-going elegance for...
TREND ALERT: Denim | Marks & Spencer
HP Raises the Bar for Exciting and Secure Devices with Cutting Edge PC Innovations
Cole Haan Delivers True Performance Footwear With the Release of the Zerøgr...
Giti Tire Celebrates New Beginnings with Opening of First Middle East Flagship S...
Malabar Gold & Diamonds actively participated in UAE National Sports Day conduct...
Lulu Promotes Food Is Great Britain: A British Food Festival
Ericsson and UNESCO launch new global AI skill development initiative for youth
LG's Smart Kitchen Appliances Help Families Eat Healthy, Stay Fit and Waste Less
Meet HP Tango! The Home Printer Reinvented
Olivia Burton presents Sunlight Florals/Mothers and daughters collection
Coach presents Park Collection
It just keeps getting better: Nokia 3.1 gets a fresh slice of Android 9 Pie
Etisalat AGM approves Full-year 2018 dividends of 80 fils per share
Volvo Cars celebrates 60 years of sharing safety knowledge with open-for-all dig...
HUGO BOSS Watches INTENSITY Collection
IKEA X TOM DIXON X YOU
Epson's latest A4 business inkjets help businesses print more for less
Smiles, and Medals, All Round After Double Success for Team GB Siblings at World...
MOTIONGATE™ Dubai launches special treat for moms to celebrate Mother's Day on ...
Jaguar F-Pace: 300 Sport and Chequered Flag Special Editions Join Award-winning...
New 2019 Cadillac CT6 makes its Middle East debut
Fintech will radically improve financial health of people in the Gulf, say experts
Italian Design Day returns to Dubai with the theme Internet of Things
Ozalys is launching the first professional range of products and spa treatments ...
Emirates Foundation's Think Science Fair kicks off in Fujairah
Top Tips on choosing the perfect Coffee Table
Dubai Cares' latest edition of Volunteer Emirates 2019 draws support for the Nat...
Saudi Arabia and Huawei sign 5 MoUs at the Saudi-Chinese Investment Forum
Finnovex ME to focus on disruptive innovations in banking and finance sectors
The S Hotel Al Barsha to Debut at Arabian Travel Market
Moms Eat Free on Mother's Day
Applications now open for visiting students to take part in summer research at N...
Tommy Hilfiger Two-Tone Time Collection
Manzil and Repton school Dubai collaborate on sustainable art project
Ministry of Health launches 3rd phase of Heart Experts Programme
Team GB Cycling Star Kiera Byland Takes Gold Medal in Her First Race at World Ga...