Mubasher: GFH Partners, a subsidiary of GFH Financial Group, owned a majority shareholding in Devmark Real Estate Brokers L.L.C, the UAE’s leading real estate development project sales and marketing platform.
The transaction marks GFH Partners’ second UAE real estate platform majority share acquisition, following its acquisition of the GFH Partners Manrre REIT (CEIC) PLC, according to a press release.
It also signals its entry into the GCC residential sales and marketing ecosystem, as its platform in the real estate sector exceeded 33 assets and AED 1.50 billion in assets under management (AUM).
Nael Mustafa, CEO of GFH Partners, commented: “The acquisition of Devmark represents an extension of our platform partnership strategy, investing alongside exceptional management teams to build enduring, sector-specific platforms.”
“Devmark’s market leadership and deep developer relationships make it a critical partner as we expand our GCC footprint and create greater connectivity between investors, capital markets, and developers across our ecosystem,” Mustafa indicated.
Sean McCauley, CEO of Devmark, noted: “Together, we will continue to elevate standards of project marketing and sales in the region, while pursuing growth opportunities across GCC’s most dynamic residential markets. Most importantly, this partnership enhances the value we can deliver to developers, enabling us to connect them with new sources of capital, more sophisticated strategies, and a broader ecosystem of investors and buyers to accelerate project success.”
Richard Aybar, Managing Director at Devmark, commented: “Our partnership with GFH Partners enables us to bring greater structure, scale, and financial depth to the way we support developers, helping them achieve both their commercial goals with enhanced efficiency and strategic insight.”
Established in 2018, Devmark has led the sales effort for over 30 projects with a combined gross development value exceeding AED 10 billion.
The UAE residential market has become a focal point of attraction to regional and international investors alike as total real estate transaction volumes exceed AED 550 billion year-to-date.
