Greykite has expanded its European presence by launching Baunest, a dedicated German residential investment platform. In partnership with Arax Properties, the firm acquired a seed portfolio of 1,600 units for its inaugural real estate fund. The assets are located in major cities including Frankfurt and Dortmund, where housing demand remains high. Baunest plans to invest €500 million over the coming year and a half, focusing on modernising older buildings to improve energy efficiency.
Investment firms Gaw Capital Partners and GFH Partners have teamed up to create a dedicated industrial and logistics platform in the UAE. The majority-owned venture by Gaw Capital will target development projects in key industrial zones across Dubai, Abu Dhabi and Ras Al Khaimah. Manrre Developments is set to lead the project execution, drawing on over 40 years of local experience.
Umm Al Qura for Development and Construction Company has entered into a new partnership to further the growth of the Masar Destination in Makkah. The firm signed a non-binding memorandum of understanding with BIM Capital and Ajbal Real Estate Development Company to create a private real estate fund. With a target capital of 221,000,000 Saudi Riyals, the venture focuses on the construction of new hotel units. This move aligns with the company strategy of using joint ventures to deliver large-scale urban projects.
Europi Property Group and Incus Capital have formed a strategic joint venture to expand the Portuguese logistics firm Ecologis across the Iberian Peninsula. The partnership aims to build a leading platform by acquiring at least €100 million of additional high-quality assets in Portugal and Spain. Since its launch in 2021, Ecologis has amassed a 160k sqm portfolio of 11 assets which are currently fully occupied.
Modon Holding has announced a significant entry into the US residential market by forming a joint venture to build Harborside 4 in Jersey City. The Abu Dhabi-based firm will take a majority stake in the 54-story luxury tower alongside US giants Related Companies and Panepinto Properties. This waterfront development is set to provide 800 new homes, split between rental units and luxury condominiums, by early 2029.
Dominus and Cheyne Capital have acquired the Grade II-listed Ibex House in the City of London for conversion into a 382-room hotel. The Art Deco landmark, built in the 1930s, will undergo a sustainable transformation designed by Studio Moren. The project aims to preserve the majority of the original structure while targeting top-tier environmental certifications. Alongside luxury guest rooms, the scheme includes the reopening of a historic pub and the launch of a new hospitality training academy.
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