Hong Kong-based private equity firm Gaw Capital Partners has formed a joint venture with Dubai-based GFH Partners to develop an industrial and logistics development platform in the UAE, according to an announcement.
Gaw Capital will hold a majority stake in the new vehicle, which the firms said aims to channel Asian capital into the UAE’s expanding industrial property market through a pipeline of seed assets across fast-growing industrial zones, including Dubai, Abu Dhabi, and Ras Al Khaimah.
Developments under the platform will be led by Manrre Developments, a venture between GFH and local industrial group Palmon, the companies said, focusing on warehouses and logistics centres aimed at institutional tenants.
“Leveraging the expertise from GFH Partners, this partnership positions us as one of Asia’s leading forerunners in delivering prime industrial facilities in the UAE, providing investors with exposure to a fundamentally undersupplied market,” said Harry Ip, managing director of Gaw Capital.
The launch comes as the UAE pushes long-term plans to deepen industrial diversification and upgrade infrastructure, including Dubai’s Industrial Strategy 2030 and the Dubai 2040 Urban Master Plan.
Market fundamentals for logistics real estate have tightened sharply in recent years. Knight Frank said Dubai industrial and logistics rents rose about 33% on average in 2024, while vacancy was around 3%, highlighting the limited available space.
“This joint venture allows us to scale that regional expertise even further, capitalising on the UAE’s robust industrial growth trajectory,” said Nael Mustafa, CEO of GFH Partners.
Gaw Capital said the platform will be its first logistics-sector foothold in the UAE, adding to a broader Asia-Pacific logistics portfolio.
The firm said it has backed 39 logistics projects across markets, including China, Japan, South Korea, Vietnam, and Australia, totalling about 3.8 million square metres of gross floor area.
In May, Gaw Capital announced its first investment in Abu Dhabi with the acquisition of a residential building for over $150 million.
The investment marks Gaw Capital’s first partnership with Abu Dhabi-based Aldar, which boasts over 20 years of experience specialising in luxury residential projects.
Established in 2005, Gaw Capital focuses on real estate markets in the Asia Pacific and other high-barrier-to-entry markets globally.
Its investments span the entire spectrum of real estate sectors, including residential development, commercial offices, retail malls, hospitality, logistics warehouses, and internet data centre (IDC) projects.
Gaw Capital has raised seven commingled funds targeting Asia Pacific markets. It also manages value-add/opportunistic funds in the US, a pan-Asia hospitality fund, a European hospitality fund, and a growth equity fund.
Since 2005, the firm has managed $35.8 billion in assets and raised $24.4 billion in equity as of Q2 2025.
